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You going to pay $100 into an account at the

Question : You going to pay $100 into an account at the : 8783

You are going to pay $100 into an account at the beginning of each of the next 40 years. At the beginning of the 41st year you buy a 30 year annuity whose first payment comes at the end of the 41st year (the accounts earn 12%). How much will you receive at the end of the 41st year (i.e. the first annuity payment). Round to nearest $100. PLEASE USE FORMUAS

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