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The Massive Chemical Corporation starts an annuity to pay for the huge government penalties they expect in 7 years when a pending case finally gets
The Massive Chemical Corporation starts an annuity to pay for the huge government penalties they expect in years when a pending case finally gets litigated. Their lead attorney informs them that they can expect a $ fine. An investment house offers interest on annuities of that size, compounded semiannually. What will the semiannual payment be on this annuity? Round to the nearest cent.
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