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Your uncle Albert is about to retire, and he wants to buy an annuity that will provide him with $77,000 of income a year for

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Your uncle Albert is about to retire, and he wants to buy an annuity that will provide him with $77,000 of income a year for 20 years, with the first paying coming immediately and future payments occurring at the BEGINNING of the respective years. The interest rate on this annuity is 6.00%. How much would it cost him to buy the annuity today? $898,727.97 $883,183,93 $861,28097 $936,174.97 $1,048,515,97

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