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8. Consider the case of the following annuities, and the need to compute either their expected rate of return or duration James inherited an annuity
8. Consider the case of the following annuities, and the need to compute either their expected rate of return or duration James inherited an annuity worth $4,597.31 from his uncle. The annuity will pay him eight equal payments of $800 at the end of each year. The annuity fund is offering a return of James's friend, Brandon, has hired a financial planner for advice on retirement. Considering Brandon's current expenses and expected future lifestyle changes, the financial planner has stated that once Brandon crosses a threshold of $2,934,687 in savings, he will have enough money for retirement. Brandon has nothing saved for his retirement yet, so he plans to start depositing $100,000 in a retirement fund at a fixed rate of 8.00% at the end of each year. It will take for Brandon to reach his retirement goal
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