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Amanda is 34 years old. A retirement plan promises to pay Amanda $32,500 per year starting in 31 years. These payments continue till Amanda dies
Amanda is 34 years old. A retirement plan promises to pay Amanda $32,500 per year starting in 31 years. These payments continue till Amanda dies and the plan costs $45,000 (to be paid immediately). Market interest rate is 7.50%. At least how old must Amanda be when she dies for this plan to be a good deal for her:
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