If you have a 12-year annuity paying $349 monthly beginning in 2 years when interest is 3.53% compounded semi-annually, what is the number of missed payments? Treat the deferred annuity as an annuity due with the first annuity payment at the 2-year mark. PLEASE SHOW COMPLETE SOLUTION (DO NOT USE EXCEL)

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Q: ques 1

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A: Present Value = $33,000,000 Annual Payout = $1,800,000

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