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1. You will make deposits of $1,000 at the beginning of each year for 30 years in your investment account. The first payment will be
1. You will make deposits of $1,000 at the beginning of each year for 30 years in your investment account. The first payment will be made today. After 30 years, you will immediately withdraw all money from the account to buy a retirement annuity for 20 years with equal annual payments (paid at year-end) from a life insurance company. If the annual rate of return over the entire period (50 years) is 7%, how much is the annual payment from the insurance company? 1. You will make deposits of $1,000 at the beginning of each year for 30 years in your investment account. The first payment will be made today. After 30 years, you will immediately withdraw all money from the account to buy a retirement annuity for 20 years with equal annual payments (paid at year-end) from a life insurance company. If the annual rate of return over the entire period (50 years) is 7%, how much is the annual payment from the insurance company
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