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How long must live after the day retired to come out ahead?

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Reference no: EM132908868

Problem 1: Your grandmother bought an annuity from Rock Solid Life Insurance Company for $200,000 when she retired. In exchange for the $200,000?, Rock Solid will pay her $25,000 per year until she dies. The interest rate is 5%. How long must she live after the day she retired to come out ahead? (that is, to get more in value than what she paid? in)?

Reference no: EM132908868

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