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Mary's grandmother wants to buy an annuity from Met Life that pays her $1300/month for 10 years. She and Met Life agree on an nominal interest rate of 4.1%. She wants $15,000 left at the end of the

Mary's grandmother wants to buy an annuity from Met Life that pays her $1300/month for 10 years. She and Met Life agree on an nominal interest rate of 4.1%. She wants $15,000 left at the end of the 10 years to leave to Mary. What should the annuity cost today? Make your answer positive, with no commas.

 

May 19 2021 View more View Less

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