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What income can mr basset expect to receive each year

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Question - Siegfried Basset is 60 years of age and has a life expectancy of 20 more years. He wishes to invest $40,000 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 10%, what income can Mr. Basset expect to receive each year?

Reference no: EM133112762

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