Question: Starting today, Sandy sets aside $ 1 0 . 0 0 0 at the beginning of each year into a bank account that pays an

Starting today, Sandy sets aside $10.000 at the beginning of each year into a bank account that pays
an annual effective interest rate of 5,5%. She makes 25 such deposits. Thirty years from today, Sandy
uses the accumulated value in the account to purchase an annuity that pays $X at the beginning of
each year for 25 years. Determine X.

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