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Samantha receives a 10, 000 life insurance benefit. If she uses the proceeds to buy a 10-year annuity immediate, the annual pay-out will be 1538.

Samantha receives a 10, 000 life insurance benefit. If she uses the proceeds to buy a 10-year annuity immediate, the annual pay-out will be 1538. If a 20-year annuity immediate is purchased, the annual pay-out will be 1072. Both calculations are based on an annual interest rate of i. Calculate

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