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Assuming an interest rate of 4.87%, compute how much income you will have each month if you save $150 each month for the next 40

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Assuming an interest rate of 4.87%, compute how much income you will have each month if you save $150 each month for the next 40 years (and then retire) and then use the accumulated money to buy an annuity of equal monthly payments for U years (or an annuity for life when your life expectancy is U more years at that time). Please show FULL formula

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