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Assume a person has a pension fund of TZS 50 million. The actuarial expectation is that the person will live for another fifteen years. If
Assume a person has a pension fund of TZS 50 million. The actuarial expectation is that the person will live for another fifteen years. If the ten-year interest rate (yield on government bonds) is currently 11.50% p.a., how much can be paid to the pensioner each year? Assume the first payment is to take place one year from the present
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