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Question
Calculate the annual cash flows of a $2 million, 10-year fixed-payment deferred annuity earning a guaranteed 8 percent per year if annual payments are to begin at the end of the sixth (6th) year.
A. $218,973.21.
B. $202,752.97.
C. $343,321.86.
D. $405,505.95.
E. $437,946.42.
Answer
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