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Business, 12.08.2020 07:01 fredorivera

Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $80,000 at age 65, the firm will pay the retiring professor $600 a month until death. a. If the professor’s remaining life expectancy is 20 years, what is the monthly interest rate on this annuity?

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Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $80,000...
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