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Silva is contemplating to buy a 20 year annuity paying $2500 at the end of each month. What amount will be required to purchase the

Silva is contemplating to buy a 20 year annuity paying $2500 at the end of each month. What amount will be required to purchase the annuity, if the annuity provides a return of 6.75% compounded annually?

Select one:

a.$355 000

b.$365 000

c.$388 000

d.$344 000

e.$334 000

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