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31-07-2024
Business

Answered

Silva is contemplating buying a 20-year annuity paying $2,500 at the end of each month. What amount will be required to purchase the annuity, if the annuity provides a return of 6.75% compounded annually?
A) $33,400
B) $47,246
C) $600,000
D) $37,037
E) $567,436

Answer :

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