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Assume that you own an annuity that will pay you $15,0o0 per year for 12 years, with the first payment being made today. You need

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Assume that you own an annuity that will pay you $15,0o0 per year for 12 years, with the first payment being made today. You need money today to start a new business, and your uncle offers to give you $156,00o for the annuity. If you sell it, what rate of return would your uncle earn on his investment? a. 2.42% b. 2.72% C. 277% d. 2.15% e. 3.31%

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