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Calculate the annual cash flows ( annuity payments ) from a fixed - payment annuity if the present value of the 2 5 - year

Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 25-year annuity is $1.9 million and the annuity earns a guaranteed annual return of 13 percent. The payments are to begin at the end of seven years.

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