Question: If $ 4 5 0 , 0 0 0 is used to purchase an annuity earning 4 . 5 % compounded monthly and paying $

If $450,000 is used to purchase an annuity earning 4.5% compounded monthly and paying $3,000 at the end of each month, identify the type of the Annuity and what will be the annuity term?
If $450,000 is used to purchase an annuity earning 4.5% compounded

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