Future Value Annuity
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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.
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Solution Summary
Computations done using formula and all work shown.
Education
- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
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