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An insurance company plans to sell annuities to investors. Based on actuarial calculations, an investor has a 18-year life span, and he wants a $40,000-per-year

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An insurance company plans to sell annuities to investors. Based on actuarial calculations, an investor has a 18-year life span, and he wants a $40,000-per-year annulty. payable at the end of each year as well as a $50,000 payout at the end of the annuity. If the insurance company uses a 3.78% assumed investment rate, how much should the annuity cost? Multiple Choice $466.928 5541,188 $515,548 5770,000

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