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Purchase of annuity

Your uncle is about to retire, and he wants to buy an annuity that will provide him with $73,000 of income a year for 20 years, with the first payment coming immediately. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today?

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Annuity
Your uncle is about to retire, and he wants to buy an annuity that ...

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Response provides steps to compute the value of an annuity

$2.19