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The Real Deal Life Insurance company is offering to you to purchase a policy that will pay you, your children, your grandchildren, and all your
The Real Deal Life Insurance company is offering to you to purchase a policy that will pay you, your children, your grandchildren, and all your heirs $28,000 every year forever. The required return on this policy is 5.8 percent. What is the maximum amount of money that you should be willing to pay for this policy? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) |
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