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Suppose you have just retired and have 1 million in your retirement account. Your bank offers an arrangement whereby the bank takes your 1 million

Suppose you have just retired and have 1 million in your retirement account. Your bank offers an arrangement whereby the bank takes your 1 million now and pays you 75,000 at the end of each year for the next 25 years. If the interest rate is 6% p.a.(compounding yearly), does this sound like a fair deal?

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