Length of the annuity time period
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
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