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The State of Texas has a pension fund liability of $ 2 5 million, due in 1 0 years. Each year the legislature is supposed
The State of Texas has a pension fund liability of $ million, due in years. Each year the legislature is supposed to set aside an annuity to arrive at this future value. This annuity is based on what the legislature believes it can earn on this money. Estimate the annuity needed each year for the next years, assuming that the interest rate that can be earned on the money is
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