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Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $42.000 at age 70, the firm will pay the retiring professor

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Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $42.000 at age 70, the firm will pay the retiring professor $4.500 a semiannualul death the professor's remaining te expectancy is 10 years, what is effective annual interest rate on this annuity? Multiple Choice 0 86 o 0

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