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b) Estimate how much would you be willing to pay (rounded to the nearest RM) for a 20-year ordinary annuity if the payments are RM6,500

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b) Estimate how much would you be willing to pay (rounded to the nearest RM) for a 20-year ordinary annuity if the payments are RM6,500 per year and you want to earn a rate of return equal to 6.5% per year. (4 marks)

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