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Erica is a beneficiary of a life insurance benefit that provides a payout of 100 today and increases by 100 each year thereafter. The payments

Erica is a beneficiary of a life insurance benefit that provides a payout of 100 today and increases by 100 each year thereafter. The payments are assumed to last forever. Erica calculates the modified duration of her payout asXusing an annual effective rate of 4%.

CalculateX.

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