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28-02-2024
Mathematics

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You are considering an annuity which costs $74,100 today. The annuity pays $6,000 a year. The rate of return is 5 percent. What is the length of the annuity time period? (Do not round intermediate calculations.)
a. 19.70 years
b.2.75 years
c.9.85 years
d.12.35 years

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