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1.Your grandfather has an annuity that is worth $89726 today. It will give him monthly payments for 24 years. If the rate is 4.72%, what

1.Your grandfather has an annuity that is worth $89726 today. It will give him monthly payments for 24 years. If the rate is 4.72%, what will be his monthly payment?

2. Your mother has an annuity that will give her monthly payments for 10 years. She tell you it is worth $98851 today. If her required return is 11.54%, what is the monthly payment?

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