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How many months will this loan accrue interest

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Reference no: EM133138737

Question - James purchases a retirement annuity which provides monthly payments when he reaches the age of 65.

Q1. If James is 58 now and you treat this as an annuity due, how many months will this loan accrue interest at basic compound interest before payments start?

Q2. If James is 50 now and you treat this as a regular annuity, how many months will this loan accrue interest at basic compound interest before payments start?

Reference no: EM133138737

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