You have a chance to buy an annuity that pays $7,796 at the beginning. of...
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You have a chance to buy an annuity that pays $7,796 at the beginning. of each year for 9 years. You could earn 7% on your money in other investments with equal risk. What is the most you should pay for the annuity? (Hint: "the most you should pay" .... basically = "what is the price?" ..... You would agree to pay a lower price than the fundamental (true) price. You would not, however, agree to pay any price above the true price, right?) * Round your answer to the nearest three decimals if needed. Do not type the \$ symbol
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