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Your grandmother bought an annuity from Canada Life Insurance Company for $458,198 when she retired. In exchange for the $458,198, Canada Life will pay her

Your grandmother bought an annuity from Canada Life Insurance Company for

$458,198 when she retired. In exchange for the

$458,198, Canada Life will pay her

$30,000 per year until she dies. The interest rate is

4%. How long must she live after the day she retired to come out ahead (that is, to get more in value than what she paid in)?

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