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This Question: 1 pt 5 of 5 (0 complete) This Quiz: An annuity with a cash value of $11,100 pays $2,390 at the beginning of
This Question: 1 pt 5 of 5 (0 complete) This Quiz: An annuity with a cash value of $11,100 pays $2,390 at the beginning of every six months. The investment earns 7% compounded semi-annually. (a) How many payments will be paid? (b) What is the size of the final annuity payment? (a) The number of payments is. (Round up to the nearest whole number.) (b) The size of the final payment is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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