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The Brown family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 6.6 % interest, compounded

The Brown family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns

6.6%

interest, compounded quarterly. Payments will be made at the end of each quarter.

How much money do they need to pay into the annuity each quarter for the annuity to have a total value of

$12,000

after

years?

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How Much Can I Spend In Retirement A Guide To Investment Based Retirement Income Strategies

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