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Eight years ago, Melissa purchased an annuity contract for $88,000. This year, she received her first payment on the annuity. The payment amount was $15,000.

Eight years ago, Melissa purchased an annuity contract for $88,000. This year, she received her first payment on the annuity. The payment amount was $15,000. The annuity started to pay on January 1 an...

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