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8. American General offers a 10-year ordinary annuity with a guaranteed rate of 6.65% compounded annually. How much should you pay for one of these

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8. American General offers a 10-year ordinary annuity with a guaranteed rate of 6.65% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $5,000 annually over the 10-year period? (A) $67,472.11 (B) $35,693.18 (C) $370.52 (D) $695.52 (E) None of these

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