An annuity with a cash value of $15,500 earns 7% compoundedsemi-annually. End-of-periodsemi-annual payments are deferred for seven

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An annuity with a cash value of $15,500 earns 7% compoundedsemi-annually. End-of-periodsemi-annual payments are deferred for seven years, and then continue for nine years. How much is the amount of eachpayment?

Each payment is $_____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Posted Date: May 18, 2024 02:18 PM

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An annuity with a cash value of $15,500 earns 7% compoundedsemi-annually. End-of-periodsemi-annual payments are deferred for seven

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