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Your aunt is about to retire and she wants to sell some of

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Your aunt is about to retire, and she wants to sell some of her stock and buy an annuity that will provide her with income of $40,000 per year for 30 years, beginning a year from today. The going rate on such annuities is 7.25%. How much would it cost her to buy such an annuity today?

Reference no: EM13572373

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