What is the length of the annuity time period

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Reference no: EM13724963

D’Angelo Barksdale is considering an annuity which costs $160,000 today. The annuity pays $17,500 a year at an annual interest rate of 7.50 percent. What is the length of the annuity time period? Show work.

a. 13 years

b. 14 years

c. 15 years

d. 16 years

e. 17 years

Reference no: EM13724963

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