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Suppose you just bought a 15-year annuity of $7,400 per year at the current interest rate of 11 percent per year. What is the value
Suppose you just bought a 15-year annuity of $7,400 per year at the current interest rate of 11 percent per year. What is the value of your annuity today? Present value $ What happens to the value of your investment if interest rates suddenly drop to 6 percent? Present value $ What if interest rates suddenly rise to 16 percent? Present value $
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