An insurance settlement of $2.5 million must replace Trixie Eden's income for the next 25 years. What income will this settlement provide at the end of each month if it is invested in an annuity that earns 7.9%, compounded monthly

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Q: An insurance settlement of $1.5 million must replace Trixie Eden's income for the next 25 years.…

A: Computation of monthly income:

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