Suppose you have 10000 and wish to purchase an annuity that


Suppose you have $10,000 and wish to purchase an annuity that pays you a fixed dollar amount every month. How much would you receive each month if the annuity rate is 1% and you intend to receive payments for 36 months?

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Financial Management: Suppose you have 10000 and wish to purchase an annuity that
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