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A company wants to have $60,000 at the beginning of each 6-month period for the...

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Basic Math

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A company wants to have $60,000 at the beginning of each 6-month period for the next 4 1 2years. If an annuity is set up for this purpose, how much must be invested now if the annuity earns 6.89%, compounded semiannually?(a) Decide whether the problem relates to an ordinary annuity or an annuity due.ordinary annuityannuity due(b) Solve the problem. (Round your answer to the nearest cent.)

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