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You are considering an annuity which costs $101,860 today. The annuity pays $7,400 a year at an annual interest rate of 6.0 percent. What is

You are considering an annuity which costs $101,860 today. The annuity pays $7,400 a year at an annual interest rate of 6.0 percent. What is the length of the annuity time period?

30.00 years

42.49 years

28.90 years

31.00 years

17.41 years

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