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(5pts) 1. You have a chance to buy an annuity that pays $85,000 at the beginning of each year for 70 years. You could earn
(5pts) 1. You have a chance to buy an annuity that pays $85,000 at the beginning of each year for 70 years. You could earn 10.0% on your money in other investments with equal risk. What is the most you should pay for the annuity (i.e. PV)
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