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Your uncle is about to retire, and he wants to buy an annuity that will provide him with $ 5 3 , 0 0 0

Your uncle is about to retire, and he wants to buy an annuity that will provide him with $53,000 of income a year for 20 years, with the first payment coming immediately. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today?
a. $5680,670.48
b. $558,149.79
C. $714,704.01
d. $769,157.64
e. $775,964.35
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