For $30,000, Manny purchased a deferred annuity from an insurance company that will pay him quarterly payments
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For $30,000, Manny purchased a deferred annuity from an insurance company that will pay him quarterly payments of $852.48 for 121 years. The payments are based upon the purchase amount earning 4.1% compounded quarterly. When will Manny receive the first payment?
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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