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You just inherited some money, and a broker offers to sell you an annuity that pays $50,000 at the end of each year for 15

You just inherited some money, and a broker offers to sell you an annuity that pays $50,000 at the end of each year for 15 years. You could earn 8.25% on your money in other investments with equal risk. What is the most you should pay for the annuity

N = I/YR = PV = PMT = FV =

? =

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