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American General offers a 19-year annuity with a guaranteed rate of 6.77% compounded annualy. How much should you pay for one of these annuities if

American General offers a 19-year annuity with a guaranteed rate of 6.77% compounded annualy. How much should you pay for one of these annuities if you want to receive payments of $2400 annually over the 19 year period? How much should a customer pay for this annuity? $(Round to the nearest cent.)

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