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You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest rates will
- You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest rates will be 8 percent over that time period. Find the maximum price you would be willing to pay for the annuity?
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Fixed Income Securities Tools For Todays Markets
Authors: Bruce Tuckman, Angel Serrat
4th Edition
1119835550, 978-1119835554
