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Your broker has proposed that you pay $76000 today for an ordinary annuity of $8000 per year for 11 years. Your opportunity cost of funds
Your broker has proposed that you pay $76000 today for an ordinary annuity of $8000 per year for 11 years. Your opportunity cost of funds is 6.9% and the return from this investment is taxfree. How much should you pay today for the ordinary annuity? Present your answer as a whole number to two decimals (including the $ symbol), e.g. $3210.65
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