Question: Please, show excel function. Thank you! Professors Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $100,000 at age 65, the

Please, show excel function. Thank you!

Professors Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $100,000 at age 65, the firm will pay the retiring professor $800 a month until death. If the professors remaining life expectancy is 25 years. What is the effective annual rate (EAR)?

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