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A 25-Year Annuity Is Purchased for $650,000

Question 71

Multiple Choice

A 25-year annuity is purchased for $650,000. Determine the payments it will deliver on a quarterly basis if the rate of interest is 5.05% compounded monthly.


A) $10,554.66
B) $11,004.66
C) $11,504.66
D) $12,004.66
E) $12,554.66

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