Question: Joshua wants to structure a 20-year annuity so that its end-of-quarter payments are $2000 for the first 10 years and $2500 for the next 10

Joshua wants to structure a 20-year so that its end-of-quarter payments are $2000 for the first 10 years and $2500 for the next 10 years. Pacific Life Insurance Co. offers to sell this with a 4.8% compounded monthly rate of return to the annuitant. What amount must Joshua pay to Pacific for the

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