Betty Bronson has just retired after 25 years with the electric company. Her total pension funds have an accumulated value of $180,000 and her life expectancy is 15 more years. Her pension fund manager assumes he can earn a 9 percent return on her assets. what will be her yearly annuity for the next 15years.
Please show the formula used and the calculations.© BrainMass Inc. brainmass.com June 3, 2020, 6:49 pm ad1c9bdddf
Computations done using formula and all work shown.