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Louis Hoosick has just retired, and in one of his retirement accounts he has saved $150,000. His financial advisor has suggested he invest the money

Louis Hoosick has just retired, and in one of his retirement accounts he has saved $150,000. His financial advisor has suggested he invest the money in an 8% fifteen-year annuity. How big would the annuities be if the first annuity is payable to him immediately?

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