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Charlie Stone wants to retire in 32 years, and he wants to have an annuity of $1000 a year for 21 years after retirement. Charlie

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Charlie Stone wants to retire in 32 years, and he wants to have an annuity of $1000 a year for 21 years after retirement. Charlie wants to receive the first annuity payment at the end of the 32th year. Using an interest rate of 12%, how much must Charlie invest today in order to have his retirement annuity? Multiple Choice $248 $214.09 $225 36 $20121

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