2) You receive payments at the end of each Quarter starting at the end of Quarter 1 and lasting 6 years (so the last payment you receive is at the end of Quarter 24). These payments are an equal series of payments of $2,500 for all 24 payment periods. The interest rate is 7% APR compounded monthly. What is the present value (at the beginning of Quarter 1) of this series of 24 payments?
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