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6. You just read about an opportunity to purchase an annuity that pays $1,000 at the end of each of the next 10 years. If

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6. You just read about an opportunity to purchase an annuity that pays $1,000 at the end of each of the next 10 years. If you are currently earning 7% on your money (your opportunity cost of money), how much would you be willing to pay for this annuity? 7. Albert inherited $300,000 from his favorite aunt and invested it at 8 percent per year. How much could Albert withdraw at the end of each of the next 20 years before his had spent all of his money

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