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Please show your work on how you got the answer. Exercise: Annuity Calculation A...

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Please show your work on how you got the answer.

Exercise: Annuity Calculation A person wants to buy an annuity that would pay $15,000/year for life. The insurance company expects the person to live for 25 years, and can invest the amount received at 5%. What is the fair price of the annuity today

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