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Question
Assume you are to receive a 20-year annuity with annual payments of $50. The first payment will be received at the end of Year 1, and the last payment will be received at the end of Year 20. You will invest each payment in an account that pays 10 percent. What will be the value in your account at the end of Year 30?
a. $6,354.81
b. $7,427.83
c. $7,922.33
d. $8,591.00
e. $6,752.46
Answer
This answer is hidden. It contains 330 characters.
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