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What was the purchase price of the annuity

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Question - Nicole purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first nine years and $600 at the end of every month for the next" five years. The annuity earns interest at a rate of 3.5% compounded quarterly. What was the purchase price of the annuity?

Reference no: EM133111594

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