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( 5 points ) A relative has left you $ 2 7 5 , 0 0 0 and you decide to invest the entire amount

(5 points) A relative has left you $275,000 and you decide to invest the entire amount in two different products so that you have a larger guaranteed income of $1500 per month for 20 years, starting one month from today, and then a lesser amount of X for the rest of your life. Product 1 is a perpetuity with monthly payments at an annual effective interest rate of 5.2% and Product 2 is a 20-year annuity with monthly payments at at an annual effective interest rate of 5.2%
i12=6%
. Both products make their first payment one month from the day of purchase. Find X.
$547.99
$679.12
$885.49
$996.47
$1102.68

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