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If purchased, an annuity will pay out $725.00 at the end of each month for the next sixteen years. How much would you pay for
If purchased, an annuity will pay out $725.00 at the end of each month for the next sixteen years. How much would you pay for the annuity, if your desired rate of return is an annual percentage rate of 3.60%? [Note: submit you answer to the nearest USA dollar without the dollar sign]
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