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you decide to purchase an IRA with regular payments of $8000 per year for 45 years. Your annuity earns 5% interest. After working for 45

you decide to purchase an IRA with regular payments of $8000 per year for 45 years. Your annuity earns 5% interest. After working for 45 years, what income could you expect from this annuity if it earns 2.25% once you convert it to an immediate annuity?

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