A retirement plan guarantees to pay you or your estate a fixed amount
A retirement plan guarantees to pay you or your estate a fixed amount for 25 years. At the time of
retirement you will have $100,000 to your credit in the plan. The plan anticipates earning 7%
interest annually over the period you receive benefits.
How much will your annual benefits be
assuming the first payment occurs one year from your retirement date?
A) $8,581 B) $8,101 C) $7,272 D) $6,182
ANSWER
A
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.