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5. If you want to purchase an annuity providing an income of $2000 at the end of each month for five years, how much will it

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c = 2000 & r = 187 compount monthly so r = 10 1200 nt 5x12=60 FVA = o [ (1+2) 60 11 10 1200 co 10 - 2000 x 1.44 32X1200 18 2

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