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You deposit $ 1 0 , 9 0 0 annually into a life insurance fund for the next 1 0 years, at which time you
You deposit $ annually into a life insurance fund for the next years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next years. What is the annual payment you expect to receive beginning in year if you assume an interest rate of percent for the whole time period? Do not round intermediate calculations. Round your answer to decimal places. eg
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