Question: Keith purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first eleven years and $900 at

Keith purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first eleven years and $900 at the end of every month for the next six years. The annuity earns interest at a rate of 2.9% compounded quarterly. a. What was the purchase price of the annuity?

b. How much interest did Keith receive from the annuity?

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