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    Business Mathematics Study Set 1
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    Exam 10: Annuities: Future Value and Present Value
  5. Question
    What Amount Will Be Required to Purchase a 20-Year Annuity
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What Amount Will Be Required to Purchase a 20-Year Annuity

Question 3

Question 3

Short Answer

What amount will be required to purchase a 20-year annuity paying $2,500 at the end of each month if the annuity provides a return of 6.75% compounded annually?

Correct Answer:

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