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American General offers a 10-year annuity with a guaranteed rate of 4.95% compounded annually. How...

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Algebra

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American General offers a 10-year annuity with a guaranteed rate of 4.95% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $1900 annually over the 10 year period?How much should a customer pay for this annuity?

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