How much should a customer pay for this annuity

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Reference no: EM13849943

American General offers a 15-year annuity with a guaranteed rate of 9.58% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $2400 annually over the 15 year period?

How much should a customer pay for this annuity?

Round answer to the nearest cent.

Reference no: EM13849943

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