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An investor wants to save money to purchase real estate. He buys an annuity with yearly payments that earn 5.3% interest, compounded annually. Payments
An investor wants to save money to purchase real estate. He buys an annuity with yearly payments that earn 5.3% interest, compounded annually. Payments will be made at the end of each year. Find the total value of the annuity in 18 years if each yearly payment is $620. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. $0 X
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