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Professor s Annuity Corp. offers a lifetime annuity to retiring professors. For a lump payment today of $ 2 2 5 , 9 7 5
Professors Annuity Corp. offers a lifetime annuity to retiring professors. For a lump payment today of $ the firm will pay the retiring professor a set amount of money per year for years. If the interest rate on the annuity is then what are the annual payments? Do not round intermediate calculations. Round your answer to decimal places.
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