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How much interest did helen receive from the annuity

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Helen purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first nine years and $700 at the end of every month for the next five years. The annuity earns interest at a rate of 3% compounded quarterly.

Question a. What was the purchase price of the annuity? Round to the nearest cent

Question b. How much interest did Helen receive from the annuity?

Reference no: EM132560091

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