Multiple Choice
A retirement plan guarantees to pay you or your estate a fixed amount for 25 years.At the time of retirement you will have $100,000 to your credit in the plan.The plan anticipates earning 7% interest annually over the period you receive benefits.How much will your annual benefits be assuming the first payment occurs one year from your retirement date?
A) $6,182
B) $7,272
C) $8,101
D) $8,581
Correct Answer:
Verified
Correct Answer:
Verified
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