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What is the value of the deferred annuity as of today

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J. Johnson receives a defined retirement benefit, which commences in 6 years. At that time, Johnson is to receive monthly cash payments of $3,600 for 10 years with the first payment scheduled for the end of the initial month of benefit. Assume an interest rate of 6%.

Problem 1: What is the value of the deferred annuity as of today? Assume annual compounding during the deferral period.

Reference no: EM132904314

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