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1. You have saved $800,000 at retirement and would like to turn that savings into a stream of income for the next 30 years. You
1. You have saved $800,000 at retirement and would like to turn that savings into a stream of income for the next 30 years. You purchase an annuity that earns 3% annually and will pay you 30 equal payments. How much will each annual payment be
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