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You just purchased an annuity that will pay you $24,000 a year for 25 years, starting today. What was the purchase price if the discount

You just purchased an annuity that will pay you $24,000 a year for 25 years, starting today. What was the purchase price if the discount rate is 8.5 percent? Selected Answer: $245,621 Answers: $241,309 $258,319 $266,498 $251,409 $245,621

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