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(4pts) 1. You just inherited some money, and a broker offers to sell you an annuity that pays $32,200 at the end of each year

(4pts) 1. You just inherited some money, and a broker offers to sell you an annuity that pays $32,200 at the end of each year for 50 years. You could earn 8% on your money in other investments with equal risk. What is the most you should pay today for the annuity?

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