What amount will be required to purchase a 20year annuity paying $2500 at the end of each
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Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lumpsum payment or a series of payment and, in return,...
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The amount required to purchase the annuity is the present value of the payment...View the full answer
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