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Reverse annuity mortgages sinclair wishes to supplement his

Question: REVERSE ANNUITY MORTGAGES Sinclair wishes to supplement his retirement income by $300/month for the next 10 yr. He plans to obtain a reverse annuity mortgage (RAM) on his home to meet this need. Estimate the amount of the mortgage he will require if the prevailing interest rate is 8%/year compounded continuously.

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