Calculating yearly annuity for the next 16 years
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?
© BrainMass Inc. brainmass.com June 3, 2020, 5:22 pm ad1c9bdddfhttps://brainmass.com/business/annuity/calculating-yearly-annuity-next-years-23964
Solution Preview
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.
$2.19