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You need an annuity to cover a $2,000,000.00 fine. A firm offers 5% interest compounded semiannually. What will be the semiannual payment on the annuity?

You need an annuity to cover a $2,000,000.00 fine. A firm offers 5% interest compounded semiannually. What will be the semiannual payment on the annuity? (Round to the nearest cent)

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