Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. James inherited an annuity worth $4,597.31 from his uncle. The annuity will pay him eight equal payments of $800 at the end of each year. The annuity fund is offering a return of James's friend, Brandon, has hired a financial planner for advice on retirement. Considering Brandon's current expenses and expected future lifestyle changes, the financial planner has stated that once Brandon crosses a threshold of $2,934,687 in savings, he will have enough money for retirement. Brandon has nothing saved for his retirement yet, so he plans to start depositing $100,000 in a retirement fund at a fixed rate of 8.00% at the end of each year. It will take for Brandon to reach his retirement goal