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Posted on May 18, 2024

A life insurance company will sell a 2 0 - year annuity paying $ 1 6 0 0 at the end of each month for

A life insurance company will sell a

20 -

year annuity paying $

1600

at the end of each month for $

175, 000 .

What quarterly compounded nominal rate of interest will the annuitant earn?

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