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For 2 M Euros you can buy an annuity which lasts for 10 years. The expected return is 12%. a) What annuity can you count

For 2 M Euros you can buy an annuity which lasts for 10 years. The expected return is 12%.

a) What annuity can you count on if the first periodic payment will be due in 1 year?

b) What annuity can you count on if the first periodic payment will be due in 4 year?

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