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7 You want to be receiving $36,000 at the beginning of each of the next 20 years. An annuity offers a 5% rate of return.

7 You want to be receiving $36,000 at the beginning of each of the next 20 years. An annuity offers a 5% rate of return. How much will it cost you today to buy this annuity? (A) (B) (C) (D) $448,640 $471,072 $360,000 $396,000

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