Question: Your client has accumulated $1,284 on his saving account . He would like to withdraw $205 a year at the end of the year. Leaving

Your client has accumulated $1,284 on his saving account . He would like to withdraw $205 a year at the end of the year. Leaving aside issues of inflation, his account pays after-tax interest rate of 6 percent per year compounded annually. How long this annuity will last?

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