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1. How much should be invested today at an annual effective interest rate of 55 to provide for a 99-year annuity with a first payment

1. How much should be invested today at an annual effective interest rate of 55 to provide for a 99-year annuity with a first payment of $930$930 in 33 years (at t=3t=3) and subsequent annual payments are indexed to reflect an inflation rate of 22.

Possible Answers: A:5939 B:6457 C: 6718 D: 6852 E: 7512

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