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| rev | Admin | (Created page with "Mason receives $23,000 from a life insurance policy. He uses the fund to purchase different annuities, each costing $11,500. His first annuities is an 18 year annuity-immediate paying K per year. The second annuity is a 7 year annuity paying 2K per year. Both annuities are based on an annual effective interest rate of i, i>0. Determine i. <ul class="mw-excansopts"><li>.053</li><li>2.08</li><li>.052</li><li>.5</li><li>.99</li></ul> {{cite web |url=https://digitalcommo...") | Nov 22'23 at 0:32 | +700 |