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17 December, 05:38

You are considering an annuity that costs $160,000 today. the annuity pays $17,500 a year at an annual interest rate of 7.5 percent. what is the length of the annuity time period?

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  1. 17 December, 07:17
    0
    N=log ((1 - (160,000*0.075

    :17,500)) ^ (-1)) : log (1

    +0.075)

    =16 years
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