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A 60-year-old grandmother wants a life insurance policy that could replace her annual $55,000 earnings for the next 10 years. If the long-term interest rate

A 60-year-old grandmother wants a life insurance policy that could replace her annual $55,000 earnings for the next 10 years. If the long-term interest rate is now 6.2%, how large of a life insurance policy does she need?

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