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Starting on your 21st birthday, exactly two years from now, you'll be receiving $45,000 annual payments from a life insurance annuity your grandfather had set
Starting on your 21st birthday, exactly two years from now, you'll be receiving $45,000 annual payments from a life insurance annuity your grandfather had set up before he died. Those payments will end when the last one is made on your 30th birthday. If interest rates are expected to hold around 7% over that period, what is the annuity worth in today's dollars
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