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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 $40,000 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?
$503,512.37
$571,292.88
$455,097.72
$484,146.51
$561,609.95
*explain please
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 $40,000 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?
| $503,512.37 | ||
| $571,292.88 | ||
| $455,097.72 | ||
| $484,146.51 | ||
| $561,609.95 *explain please |
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