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Question
Calculate the annual cash flows of a $500,000, 12-year fixed-payment annuity earning a guaranteed 6 percent per year if annual payments are to begin at the end of the current year.
A. $59,638.51.
B. $56,262.75.
C. $29,819.26.
D. $83,841.52.
E. $28,131.37.
Answer
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