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Mrs. Smith bought an Annuity that will pay her $25,000 per quarter (end of period) for 20 years beginning twenty-five years from today.The Required Return

Mrs. Smith bought an Annuity that will pay her $25,000 per quarter (end of period) for 20 years beginning twenty-five years from today.The Required Return for this investment is Ri= 12.0%,(m = 4).What is the value of the Annuity today?

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