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Suppose you just bought a 15-year annuity of $8,300 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 $8,300 per year at the current interest rate of 11 percent per year.

What is the value of your annuity today?

What happens to the value of your investment if interest rates suddenly drop to 6 percent?

What if interest rates suddenly rise to 16 percent?

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