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3 Alicent Hightower, age 60, purchases an annuity from an insurance company for $90,000. In return, she is to receive $500 per month for life.

3 Alicent Hightower, age 60, purchases an annuity from an insurance company for $90,000. In return, she is to receive $500 per month for life. Her life expectancy (from Exhibit 4.1) is 24.2 years from...

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