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Question
Calculate the annual cash flows of a $500,000, 12-year fixed-payment deferred annuity earning a guaranteed 5 percent per year if annual payments are to begin at the end of year 4.
A. $32,652.38.
B. $79,018.76.
C. $62,195.01.
D. $65,304.76.
E. $31,097.50.
Answer
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