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Your buy an annuity for $15,000 that delivers $225 at the end of each month for the next 10 years. What is the annual rate
Your buy an annuity for $15,000 that delivers $225 at the end of each month for the next 10 years. What is the annual rate of return?
Your friend just won the lottery. He has a choice of receiving $35,000 a year for the next 15 years or a lump sum today. The lottery uses a 12 percent discount rate. What would be the lump sum amount your friend would receive?
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