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Today, you are purchasing a 15-year, 6.5 percent annuity at a cost of $36,500. The annuity will pay annual payments starting one year from today.

Today, you are purchasing a 15-year, 6.5 percent annuity at a cost of $36,500. The annuity will pay annual payments starting one year from today. What is the amount of each payment?

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$4,177.59
$3,881.88
$2,420.91
$3,679.71
$4,874.70

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