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5. Your great aunt left you $20 000 when she died. You can invest the money to earn 12% per year. If you spend $3540

5. Your great aunt left you $20 000 when she died. You can invest the money to earn 12% per year. If you spend $3540 per year out of this inheritance, how long will the money last? Try to use an appropriate annuity formula, and make sure to clearly state any assumptions you make.

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