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Calculate how much of an annual payment the count can expect

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Count Crow wishes to have a large celebration eight years from today costing $150,000. Currently, he has an investment of $625,000 in a financial institution earning 7.5 percent interest annually. Count Crow also wishes to receive an annual payment from his investment over this period at the beginning of each year starting today.

Calculate how much of an annual payment the Count can expect. (Use a Financial calculator to arrive at the answer. Round the final answers to the nearest whole dollar.)

Annual payment $

Reference no: EM132813665

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