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Question 19 1 pts Suppose that you have inherited an annuity that will initially pay $1,598 annually beginning 5 years from now. Each of
Question 19 1 pts Suppose that you have inherited an annuity that will initially pay $1,598 annually beginning 5 years from now. Each of the following 42 annual payments will be 2% larger than the prior payment. Assuming that the annual opportunity cost of capital is 5%, what is the value of this annuity today? Round your final answer to two decimals. I Question 20 1 pts Suppose that you hope to save $2 million by depositing a constant amount each year in an account with paying annual interest of 10%. Assuming that the first payment will be made one year from now and you have 39 years until retirement, what annual deposit do you need to make? Round your final answer to two decimals.
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