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Larry purchased an annuity from an insurance company that promises to pay him $10,000 per month for the rest of his life. Larry paid $1,051,200

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Larry purchased an annuity from an insurance company that promises to pay him $10,000 per month for the rest of his life. Larry paid $1,051,200 for the annuity. Larry is in good health and he is 72 years old. Larry received the first annuity payment of $10,000 this month. Use the expected number of payments in Exhibit 5-ffor this

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