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Dear Peppermintpatti,
Thank you for answering my post.
The account is an indexed annunity that grows at 3% until it matures in 2004 At the date of maturity it is credited with 100% of the average of the Weekly S&P 500 during 13 weeks prior to the date of maturity.

This sounded good when I bought it but now I know that it would be better if the money was compounding over the life of the seven years.
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