Question: What amount will be required to purchase, on an engineers 48th birthday, an annuity to provide her with 25 equal semiannual payments of $35,000 each,

What amount will be required to purchase, on an engineers 48th birthday, an annuity to provide her with 25 equal semiannual payments of $35,000 each, the rst to be received on her 60th birthday, if nominal interest is 7.5% compounded semiannually?

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