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The price of a 55-year annuity-immediate with annual level payments of $100$100 is calculated at an annual effective interest rate of 66. Estimate the new

The price of a 55-year annuity-immediate with annual level payments of $100$100 is calculated at an annual effective interest rate of 66. Estimate the new price of this annuity if the interest rate drops to 5.75.7 using the first-order Macaulay approximation.

Possible Answers

A. 417.81

B. 421.24

C. 424.70

D. 428.10

E. 429.20

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