Multiple Choice
Your uncle is about to retire,and he wants to buy an annuity that will provide him with $75,000 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?
A) $ 825,835
B) $ 869,300
C) $ 915,052
D) $ 963,213
E) $1,011,374
Correct Answer:
Verified
Correct Answer:
Verified
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