He wishes to invest 20000 in an annuity that will make a, Financial Management

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He wishes to invest 20000 in an annuity that will make a

Siegfried Basset is 65 years of age and has a life expectancy of 13 more years.

He wishes to invest $20,000 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 10.0%, what income can Mr. Basset expect to receive each year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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