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An insurance agent is trying to sell you an immediate retirement annuity which for a single amount paid today will provide you with $10,500 at the end of each for the next 20 years. You currently earn 8% on low risk investments comparable to the retirement annuity. Ignoring taxes what is the most you would pay for this annuity?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92420013

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