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You are considering an annuity which costs $102,965 today. The annuity pays $7,800 a year...

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Finance

You are considering an annuity which costs $102,965 today. The annuity pays $7,800 a year at an annual interest rate of 6.5 percent. What is the length of the annuity time period?

a) 29.90 years

b) 32.00 years

c) 31.00 years

d) 14.20 years

e) 47.70 years

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