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Compute the value of the payments

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Reference no: EM133121776

A friend wants to borrow money from you. He states that he will pay you $2,600 every 6months for 8 years with the first payment exactly 4 years and six months from today. The interest rate is an APR of 4.9 percent with semiannual compounding. The value of the payments today is $________(correct to 2 decimal places).

Reference no: EM133121776

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