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Calpers Pension Fund offers an annuity to CSU, Chico retiring professors. For a deposit of $100,000 into this fund at age 65, the fund will

Calpers Pension Fund offers an annuity to CSU, Chico retiring professors. For a deposit of $100,000 into this fund at age 65, the fund will pay the retiring professor $1000 a month for 30 years. What is the EAR on this annuity? 12.27% 11.63% 0.97% 33.93%

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