Question: Suppose the interest rate is 9 . 4 % 9 . 4 % APR with monthly compounding. What is the present value of an annuity

Suppose the interest rate is
9.4%9.4%
APR with monthly compounding. What is the present value of an annuity that pays
$ 80$80
every
sixsix
months for
fourfour
years?
(Note:
Be careful not to round any intermediate steps less than six decimal places.)

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