Question: 8. Please provide a detailed solution. By hand. Find the present value of the following ordinary annuity. Periodic Payment Term Payment Interval $2300 1 year

8. Please provide a detailed solution. By hand.

Find the present value of the following ordinary annuity. Periodic Payment Term Payment Interval $2300 1 year 6 years Interest Rate Conversion Period monthly 9% The present value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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