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New Jersey Mutual has offered you a single premium annuity that will pay you exist12,000 per year (end of year) for the next 15 years.

New Jersey Mutual has offered you a single premium annuity that will pay you exist12,000 per year (end of year) for the next 15 years. If you must pay exist109, 296 today for this annuity, what is your expected rate of return

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