You have a chance to buy an annuity that pays 950 at the


You have a chance to buy an annuity that pays $950 at the end of each year for 6 years. You could earn 6% on your money in other investments with equal risk. What is the most you should pay for the annuity?

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Finance Basics: You have a chance to buy an annuity that pays 950 at the
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