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1 An insurance company is trying to sell you a retirement annuity. The annuity Mil give you 2t] payments with the first payments in 15

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1 An insurance company is trying to sell you a retirement annuity. The annuity Mil give you 2t] payments with the first payments in 15 years 1when you retire. The insurance rm is asking you to pay $5D, today. If this is a fair deal, what must be the payment amount be (to the dollar} if interest rate is 8 percent

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