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There is an investment annuity that pays 5.5% compounded quarterly. The investment makes payments at the end of each month for 10 years. The annuity

There is an investment annuity that pays 5.5% compounded quarterly. The investment makes payments at the end of each month for 10 years. The annuity costs $95,000 today. a. What is the size of each quarterly payment. b. Calculate the principal portion of the 50th payment. c. Calculate the interest portion of the 60th payment.

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