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You invest $13,042 in an annuity contract that earns 6% interest, compounded annually. You are to receive annual payments for the next ten years. How

You invest $13,042 in an annuity contract that earns 6% interest, compounded annually. You are to receive annual payments for the next ten years. How much will each of the payments be? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.)

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