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The Good Life Insurance Co. wants to sell you an annuity which will pay you $967 per quarter for 25 years. You want to earn
The Good Life Insurance Co. wants to sell you an annuity which will pay you $967 per quarter for 25 years. You want to earn a minimum rate of return of 5.22 percent APR. What is the most you are willing to pay as a lump sum today to buy this annuity? QUESTION 8 You borrow $6,249 to buy a car. The terms of the loan call for monthly payments for 4 years at a 6.06 percent APR. What is the amount of each payment
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