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You are considering an annuity which costs $54700 today. The annuity pays $6100 a year. The rate of return is 7 percent. What is the

You are considering an annuity which costs $54700 today. The annuity pays $6100 a year. The rate of return is 7 percent. What is the length of the annuity time period? (Do not round intermediate calculations.)

rev: 07_11_2013_QC_32664, 07_12_2013_QC_32664

14.60 years

16.21 years

24.58 years

5.83 years

7.20 years

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