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Atlas Insurance wants to sell you an annuity which will pay you $ 1 , 6 0 0 per quarter for 2 5 years. You

Atlas Insurance wants to sell you an annuity which will pay you $

1, 600

per quarter for

25

years. You want to earn a minimum rate of return of

6.5

percent. What is the most you are willing to pay as a lump sum today to buy this annuity?

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