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If you want to be paid from a 1 3 year ordinary annuity with a guaranteed rate of 3 . 2 6 4 % compounded

If you want to be paid from a 13
year ordinary annuity with a guaranteed rate of 3.264%
compounded annually, how much should you pay for one of these annuities if you want to receive annual payments of $4,000.00
over the 13
year period?

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