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Posted on Jul 13, 2024

Juan purchases an annuity for $ 3 3 7 0 that will make 2 0 annual payments, the first to come in one year. If

Juan purchases an annuity for $

3370

that will make

20

annual payments, the first to come in one year. If the effective rate of interest is

9.6 %,

how much is each annual payment?

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