Your uncle is about to retire, and he wants to buy an annuity that will provide him with $73,000 of income a year for 20 years, with the first payment coming immediately. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today?© BrainMass Inc. brainmass.com June 3, 2020, 11:51 pm ad1c9bdddf
Your uncle is about to retire, and he wants to buy an annuity that ...
Response provides steps to compute the value of an annuity