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For $400,000, a trust company sells an annuity that pays $15,000 at the beginning of every semiannual period for 25 years. What nominal rate of

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For $400,000, a trust company sells an annuity that pays $15,000 at the beginning of every semiannual period for 25 years. What nominal rate of interest compounded semi-annually does the annuity earn? 2.97% 0 2.74% 5.93% 6.25% 5.47%

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