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American General offers a 18-year annuly with a guaranieed rate of 7.59% compounded annually. How much should you pay for one of these anmuties if

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American General offers a 18-year annuly with a guaranieed rate of 7.59% compounded annually. How much should you pay for one of these anmuties if you want to recolve payments of $1600 annually over the 18 year period? How much should a curlomer pay for this annuly? (Round to the nearest cent)

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