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How much most deposit today in order to receive an annuity

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Problem 1: If you want to retire in 20 years' time at the age of 60, how much most you deposit today in order to receive an annuity payment of RM1,800 per month for the next 20 years upon retirement? You would also like to have the first payment at the beginning of the year. The annual interest rate offered by the market is 9 %.

Reference no: EM132988372

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