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You deposit $10,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump

You deposit $10,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next 25 years. What is the annual payment you expect to receive beginning in year 15 if you assume an interest rate of 4 percent for the whole time period?

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