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Today in order to his retirement annuity

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Joshep wants to retire in 30 years, and he wants to have an annuity of $1,000 a year for 20 years after retirement. Joshep wants to receive the first annuity payment at the end of the 30th year. Using an interest rate of 10%, how much must Joshep invest today in order to have his retirement annuity?

Reference no: EM132000593

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