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13. You are offered an annuity of GHc12,000 a year for 15 years. The annuity payments start after five years have elapsed. If the annuity

13. You are offered an annuity of GHc12,000 a year for 15 years. The annuity payments start after five years have elapsed. If the annuity costs GHc75,000, is the annuity a good purchase if you can earn 9 percent on invested funds?

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