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You have just read an ad which says Deposit $2400 a year for 10 years and we will pay you $X per year forever starting
You have just read an ad which says "Deposit $2400 a year for 10 years and we will pay you $X per year forever starting the year after your last deposit." Suppose the interest rate stays constant at 4%, how much will X be in order to make this a fair (equal) deal?
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