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Silva is contemplating to buy a 20 year annuity paying $2500 at the end of each...

Silva is contemplating to buy a 20 year annuity paying $2500 at the end of each month. What amount will be required to purchase the annuity, if the annuity provides a return of 6.75% compounded annually?

Select one:

a. $365 000

b. $344 000

c. $355 000

d. $388 000

e. $334 000

Math   Advanced-Math   
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