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Navid wants to use $500,000from his RRSP to purchase an annuity form Global Insurance that pays him $2,000 at the end of each month for
Navid wants to use $500,000from his RRSP to purchase an annuity form Global Insurance that pays him $2,000 at the end of each month for the first 10 years and $3,000 per month thereafter. If the rate of return offered by Global insurance is 4.8% compounded monthly, for how long the annuity continues? Group of answer choices 33 years 23 years 26 years and 10 months 14 years and
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