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You are wanting to calculate the present value of a 5-year annuity that makes semi-annual payments. If the nominal rate is 12% compounded weekly (52

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You are wanting to calculate the present value of a 5-year annuity that makes semi-annual payments. If the nominal rate is 12% compounded weekly (52 weeks in a year), what is the periodic rate that you should use? Assume you are using formulas so you should answer as a decimal. Express your answer to four decimal places (i.e. not .53\% but rather .0053.)

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