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Consolidated Oatmeal offers a 7-year ordinary annuity with a guaranteed rate of 6.35% compounded annually. How much should you pay for one of these annuities

Consolidated Oatmeal offers a 7-year ordinary annuity with a guaranteed rate of 6.35% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $19,000 annually over the 7-year period

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