What is the present worth of the following series of payments? (a) $5,000 at the end of
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What is the present worth of the following series of payments?
(a) $5,000 at the end of each six-month period for 12 years at 9% compounded semiannually.
(b) $7,000 at the end of each quarter for 10 years at 8% compounded quarterly.
(c) $3,500 at the end of each month for five years at 6% compounded monthly.
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