Business

Quinton Hodge

26 February, 11:02

Samantha receives a 10,000 life insurance benefit. If she uses the proceeds to buy a 10-year immediate annuity, the annual payout will be 1,538. If a 20-year immediate annuity is purchased, the annual payout will be 1,072. Both calculations are based on an effective annual interest rate of i. Calculate i.

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