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4) Given 800,000 in current savings, and an expected remaining life expectancy of 15 years, inflation...

4) Given 800,000 in current savings, and an expected remaining life expectancy of 15 years, inflation of 3%, and investment r of 8%,

b) what annuity due could be purchased leaving 200,000 behind in 15 years (current dollars, not inflation adjusted).

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Answer #1

Annuity due can be purchased is $75,914.62

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