American General offers a 8-year annuity with a guaranteed rate of 6.77% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $1200 annually over the 8 year period? How much should a customer pay for this annuity? $ (Round to the nearest cent.)
Added by Gregory P.
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77% or 0.0677) n = Number of periods (8 years) Show more…
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