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Home / Questions / your grandmother bought an annuity from rock solid life insurance for $360000 when she ret...

your grandmother bought an annuity from rock solid life insurance for $360000 when she retired In exchange for $360000 Rock solid will pay her $50000 per year until she dies The interest rate is

your grandmother bought an annuity from rock solid life insurance for $360,000 when she retired. In exchange for $360,000, Rock solid will pay her $50000 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)?

 

Apr 04 2020 View more View Less

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