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Kwame and Omarosa, both age 40, have $80,000 of combinedretirement assets. They both expect to retire at the age of 65 witha life expectancy of
Kwame and Omarosa, both age 40, have $80,000 of combinedretirement assets. They both expect to retire at the age of 65 witha life expectancy of 100 years old. They expect to earn 10% on theassets within their retirement accounts before retirement and 8%during their retirement. If they did not make any additionalcontributions to their account and they receive a fixed monthlyannuity benefit for life, what is the monthly (annuity due) amountthey will receive during retirement?
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