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An insurance annuity offers to pay you $1,000 per quarter for 20 years. If you want to earn a rate of return of 5.9 percent,

An insurance annuity offers to pay you $1,000 per quarter for 20 years. If you want to earn a rate of return of 5.9 percent, compounded quarterly, what is the most you are willing to pay today to obtain this annuity?

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