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American General offers a 13 -year annuity with a guaranteed rate of 6.11 % compounded annually. How much should you pay for one of these

American General offers a 13-year annuity with a guaranteed rate of 6.11% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $2000 annually over the 13 yearperiod?

How much should a customer pay for thisannuity?

$______

pv=pmt[1-(1+i)-n]/i

(Round to the nearestcent.)

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