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You have a chance to buy an annuity that pays $2,500 at the end of each year for 20 years. You could earn 5% on
You have a chance to buy an annuity that pays $2,500 at the end of each year for 20 years. You could earn 5% on your money in other investments with equal risk. What is the most you should pay for the annuity? a) $42,821.60 b) $31,155.53 C) $34,214.55 d) $39,022.91
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