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Your aunt is about to retire, and she wants to sell some of her stock and buy an annuity that will provide her with income

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Your aunt is about to retire, and she wants to sell some of her stock and buy an annuity that will provide her with income of $84,000 per year for 30 years, beginning a year from today. The going rate on such annuities is 7.25%. How much would it cost her to buy such an annuity today? a) $1,159,046.74 b) $1,209,882.12 c) $1,016,707.67 d) $976,039.36 e) $1,077.710.13

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