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Mark Ventura has just purchased an annuity to begin payment at the end of 2016 ( that is the date of the first payment). Assume
Mark Ventura has just purchased an annuity to begin payment at the end of 2016 ( that is the date of the first payment). Assume it is now the beginning of the year 2014. The annuity is for $8,000 per year and is designed to last 10 years. If the interest rate for this problem calculation is 13%, what is the most he should have to pay for the annuity?
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