A pension plan will receive a pension annuity of $15,000 each year for 15 years...
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A pension plan will receive a pension annuity of $15,000 each year for 15 years ( starting next year). After 15 payments (t=16) she receives $10,000, which will then grow at 3% per year thereafter. She is expected to live 30 years (30 payments in total). The interest rate is 6%. What are these two annuity payments worth today?
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