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5-10A (Solving for i in amuities) Nicki Johnson, a sophomore mechanical receives a call from an insurance agent who believes that Nicki is an older
5-10A (Solving for i in amuities) Nicki Johnson, a sophomore mechanical receives a call from an insurance agent who believes that Nicki is an older woman ready ro retire from teaching. He taiks to her about several annuities that she could buy that would guarantee her an annual fixed income. The annuities are as foliows student, PAYMENT INTO ANNUITY DURATION OF ANNUITY (YEARS) 9 AMOUNT OP MONEY RECEIVED PER YEAR ANNUITY (AT 0) $8,500 $50,000 60,000 70,000 7,000 8,000 12 25 20 If Nicki could eart 11 percent on her money by placing it in a savings account,should she place it instead in any of the annuines? Which ones, if any? Why
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