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Your grandmother brought an annuity from a life insurance company for $290,000 when she retires. In exchange for the $290,000 the insurance company will pay her $50,000 per year until she dies. The interest rate is 4%. How long much she live after the day she retires to come out ahead (that is, to get more in value that what she paid in)?

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Financial Management, Finance

Category:- Financial Management
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