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Rochelle is contemplating purchasing a single premium annuity from qn insurance company. the insurance company is promising to pay $600,000 after 8 years. they are

Rochelle is contemplating purchasing a single premium annuity from qn insurance company. the insurance company is promising to pay $600,000 after 8 years. they are estimating a 5% annual return. what amount should rochelle pay the insurance company today?
a.406 104
b 400000
c 600 000
d 408 350

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