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Today you invested $30,000 in a fund to provide you with an annual income. The fund earns 8% per year and promises to make equal

Today you invested $30,000 in a fund to provide you with an annual income. The fund earns 8% per year and promises to make equal payments to you at the end of each of the next 20 years. How much will each payment be?

a.$5,220.44.

b.$7,818.28.

c.$3,055.57.

d.$6,160.70.

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