Evan purchased an annuity that had an interest rate of 2.50% compounded semi-annually. It provided...
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Accounting
Evan purchased an annuity that had an interest rate of 2.50% compounded semi-annually. It provided him with payments of $2,000 at the end of every month for 5 years. If the first withdrawal is to be made in 4 years and 1 month, how much did he pay for it?
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