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An annuity pays $1200 per year for 15 years. The money is invested at 5.2%, compounded annually. The first payment is made one year after
An annuity pays $1200 per year for 15 years. The money is invested at 5.2%, compounded annually. The first payment is made one year after the purchase of the annuity. Determine the interest earned by the annuity over 15 years. (Round to 2 decimal places and show your work)
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