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1 1 . Lane and Fred want to begin saving for their baby's college education. They are offered an annuity that will pay $ 2

11. Lane and Fred want to begin saving for their baby's college education. They are offered an annuity that will pay $24,000 per year for the next 11 years with the first payment being the end of the year. With an interest rate of 13% what is the annuity valued today?

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