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Suppose you bought an annuity for 50,000 to give you a fixed quarterly income at the beginning of every quarter for the next 10 years.

Suppose you bought an annuity for 50,000 to give you a fixed quarterly income at the beginning of every quarter for the next 10 years. The interest rate is 3.1% per annum compounded quarterly How much will your quarterly income be?

a.1447.33

b.1441.87

c.1448.21

d.1457.13

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