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Deferred Annuity: What is the value today of a 15-year annuity that pays $500 a year? The annuity's first payment occurs six years from today.

Deferred Annuity: What is the value today of a 15-year annuity that pays $500 a year? The annuity's first payment occurs six years from today. The discount rate is 15 percent.

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