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Required to pay joey to compensate him for his injuries

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Joey, injured in an automobile accident, won a judgment that provides him $1,500 at the end of each 6-month period over the next 6 years. If the escrow account that holds Joey's settlement award earns an annual average rate of 12% compounded semiannually, how much was the defendant initially required to pay Joey to compensate him for his injuries?

Reference no: EM131626984

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