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Mathematics, 22.07.2019 05:00 kelciiann5968

At age 70, fiona lives alone, owns a house valued at $350,000, and has paid off the mortgage completely. fiona has no other assets to live on. she can choose a reverse mortgage that gives her payments of $32,000 a year for 10 years or one that pays her $20,000 a year for as long as she lives in the house. fiona opts for the $32,000-a-year reverse mortgage. did fiona do the right thing, considering that women of her age live 14 more years on average? a~ yes, because she can live rent-free for 10 years and receives a larger income for those years. b~ yes, because she gets value out of the house in a form she can use. c~ no, because she may be unable to live in the house that long or if she lives longer, she will be broke. d~ no, because reverse mortgages only make sense for people under 50 years old.

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