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What lump sum should your parents set aside today

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Reference no: EM131627844

Question: 1. You are starting an ordinary annuity of $680 for 25 years at 5% annual interest. What lump-sum amount would have to be set aside today for this annuity?

2. Your parents are retiring and want to set aside a lump sum earning 8% annual interest compounded quarterly to pay out $5,000 quarterly for ten years. What lump sum should your parents set aside today?

Reference no: EM131627844

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