Calculating yearly annuity for the next 16 years
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Frank Bell has just retired from the telephone company. His total pension funds have an accumulated value of $200,000, and his life expectancy is 16 more years. His pension fund manager assumes he can earn a 12 percent return on his assets. What will be his yearly annuity for the next 16 years?
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The total amount that the pension manager has is $200,000.
For the per year amount in the bank the pension manager will earn 12% interest on it. ...
Solution Summary
The solution calculates yearly annuity for the next 16 years for a telephone company.
$2.49