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American General offers a 19 -year annuity with a guaranteed rate of 6.59 % compounded annually. How much should you pay for one of these

American General offers a 19-year annuity with a guaranteed rate of 6.59% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $1500 annually over the 19 yearperiod?

How much should a customer pay for thisannuity?

(Round to the nearestcent.)

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