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Salem decided to invest in an annuity that pays $24,000 annually for 25 years. The payments are paid on the first day of each year.

Salem decided to invest in an annuity that pays $24,000 annually for 25 years. The payments are paid on the first day of each year. Help Salam determine the value of this annuity, today assuming a required rate of return of 8.5%. A. $251,409 B. $245,621 C. $266,498 D. $241,309 10 points

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