A retirement account has $250,000.00 that will be used to start an annuity that earns 6.2%, compounded

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A retirement account has $250,000.00 that will be used to start an annuity that earns 6.2%, compounded monthly. The annuity will make payments monthly in the amount of $1,500.00. How long will it be until the annuity has a balance of $0?

Posted Date: Jul 10, 2024 05:04 AM

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A retirement account has $250,000.00 that will be used to start an annuity that earns 6.2%, compounded

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