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A retirement account has $240,000.00 that will be used to start an annuity that earns 5.5%, compounded monthly. The annuity will make payments monthly in

A retirement account has $240,000.00 that will be used to start an annuity that earns 5.5%, compounded monthly. The annuity will make payments monthly in the amount of $1,800.00. 


How long will it be until the annuity has a balance of $0?

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