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Shea company is considering investing in an annuity

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Shea Company is considering investing in an annuity contract that will return $37,500 annually at the end of each year for 15 years. What amount should Shea Company pay for this investment if it earns a 11% return? (Use the below table.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 15.25.)

Reference no: EM13590386

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