=+3.13* Business Application: Buying Houses with Annuities: Annuities are streams of payments that the owner of an

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Business Application: Buying Houses with Annuities: Annuities are streams of payments that the owner of an annuity receives for some specified period of time. The holder of an annuity can sell it to someone else who then becomes the recipient of the remaining stream of payments that are still owed.

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