A life insurance company will sell a 20-year annuity paying $1600 at the end of each...
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A life insurance company will sell a 20-year annuity paying $1600 at the end of each month for $175,000. What quarterly compounded nominal rate of interest will the annuitant earn? 51 Multiple Choice A life insurance company will sell a 20-year annuity paying $1600 at the end of each month for $175,000. What quarterly compounded nominal rate of interest will the annuitant earn? 51 Multiple Choice
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