Question: your father is about to retire and he wants to buy an annuity that will provide him with 7 8 0 0 0 of income

your father is about to retire and he wants to buy an annuity that will provide him with 78000 of income a year for 25 years with the first payment coming immediatly the going rate on such annuitites is 5.15% how much would it cost him to buy the annuity?

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