Question: 3000 Using funds from an inheritance, Marcello, aged 62, purchased a term annuity to age 90 for $100,000. His nominal interest rate is 5.3% per

3000 Using funds from an inheritance, Marcello, aged 62, purchased a term annuity to age 90 for $100,000. His nominal interest rate is 5.3% per year compounded monthly. What is his payment at the beg...

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