Frodo offers to sell sam an annuity today for 90500 how


Frodo offers to sell Sam an annuity today for $90,500. The annuity pays $6,200 a year and the annual rate of return is 6 percent. How many years does the annuity last if the first payment is in one year? (Do not round intermediate calculations.)

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Financial Management: Frodo offers to sell sam an annuity today for 90500 how
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