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What is the annual payment for the whole time period

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You deposit $10,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next 25 years.

Question 1: What is the annual payment you expect to receive beginning in year 15 if you assume an interest rate of 4 percent for the whole time period?

Reference no: EM132467753

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