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Problem 9-37 (calculator version): Annuity Value (5 points) Graham Bell retired today after 30 years with the telephone company. Also, as of today, his total
Problem 9-37 (calculator version): Annuity Value (5 points) Graham Bell retired today after 30 years with the telephone company. Also, as of today, his total pension funds have an accumulated value of $350,000, and his life expectancy is 17 more years. His pension fund manager assumes he can earn a 9 percent return on his assets What will be his yearly annuity for the next 17 years? (Use Excel or a Financial calculator or a formula to arrive at the answer, Round the final answer to the nearest dollar amount.) Annuity
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