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How much mark should be willing to pay for the annuity

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Problem - Mark is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $38,000 payment each year for the next 15 years.

Calculate how much Mark should be willing to pay for the annuity if he can invest his funds at 7%.

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Reference no: EM131624839

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