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William is investing a $250,000 insurance policy that earns (3.75%, 2) the annuity policy allows William to receive 25 equal payments. What will the amount

William is investing a $250,000 insurance policy that earns (3.75%, 2) the annuity policy allows William to receive 25 equal payments. What will the amount of each payment be?

(Please use/refer to General Annuity formulas and concepts)

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