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3. You have a chance to buy an annuity that pays $3,750 at the end of each year for 6 years. You could earn 6.5%

3. You have a chance to buy an annuity that pays $3,750 at the end of each year for 6 years. You could earn 6.5% on your money in other investments with equal risk. What is the most you should pay for the annuity? *

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