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What is the value of this annuity to Albert

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Question - Albert is considering investing in an annuity being offered by Casey Investments Ltd. The annuity will pay him $7,000 per quarter for 5 years. Albert is trying to work out how much this annuity is worth. He thinks that he should receive a return equivalent to an effective annual interest rate of 4.0% per annum. What is the value of this annuity to Albert?

Reference no: EM133066945

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