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You are about to retire and have saved $750,000. Really Safe Insurance Company has offered to sell you an annuity contract that will pay you
You are about to retire and have saved $750,000. Really Safe Insurance Company has offered to sell you an annuity contract that will pay you a fixed amount each month for thirty years. The interest rate on the contract is 7.5% per year. Calculate how much you would get on the first day of each month during those thirty years.
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