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23. New Jersey Mutual has offered you a single premium annuity that will pay you $12,000 per year (end of year) for the next 15

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23. New Jersey Mutual has offered you a single premium annuity that will pay you $12,000 per year (end of year) for the next 15 years. If you must pay $109,296 today for this annuity, what is your expected rate of return? a. 8% b.9% c. 7% d. 10% aland morning growth nrospects will have higher P E multiples

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