The good life insurance co wants to sell you an annuity


The Good Life Insurance Co. wants to sell you an annuity which will pay you $770 per quarter for 25 years. You want to earn a minimum rate of return of 6.2 percent. What is the most you are willing to pay as a lump sum today to buy this annuity?

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Financial Management: The good life insurance co wants to sell you an annuity
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