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Question2 10 pts We wish to purchase a ten year annuity with 100,000. Given an effective rate of interest of 8%. What is the difference

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Question2 10 pts We wish to purchase a ten year annuity with 100,000. Given an effective rate of interest of 8%. What is the difference between the monthly payment for a monthly annuity-immediate and a monthly annuity-due? Hint: To calculate the monthly payments, you should find use annuity formulas with 120 payments, which use monthly effective rates of interest or discount that are equivalent to the annual effective rate of interest of 8%. O 7.66 O 91.95 O 1,103.92 4,473.39

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