You are offered an annuity that will pay 10000 a year for


You are offered an annuity that will pay $10,000 a year for 10 years starting after 5 years have elapsed. If you seek an annual return of 8 percent, what is the maximum amount you should pay for the annuity.

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Finance Basics: You are offered an annuity that will pay 10000 a year for
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