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17) Sun Woo wants to purchase an annuity that will pay him $1,000 a month for fifteen years. If he can negotiate a 4.5% rate

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17) Sun Woo wants to purchase an annuity that will pay him $1,000 a month for fifteen years. If he can negotiate a 4.5% rate of return, how much will he have to pay today in order to purchase this annuity? A) S123,185 B) $154,327 C) $96,489 D) $130,720 E) S185,171

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