You are considering an annuity which costs $100,000 today. The annuity pays $6,000 a year. The rate of return is 4.5%. What is the length of the annuity time period?
A) 24.96 years
B) 29.48 years
C) 31.49 years
D) 33.08 years
E) 38.00 years
Correct Answer:
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