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You wish to convert your 2 million to a lifetime annuity which will provide you with a monthly payment for the rest of your life. You wish this payment to being one month after you fund your annuity. Annuity products are paying interest at 3% per year. With your age and gender life remaining is 18 years and 4 months. Assuming that inflation will be 3%/ year over your working life, what is the value of your monthly payment in today's dollars?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92257094

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