After Your Grandmother Retired,she Purchased an Annuity Contract for $250,000

Multiple Choice

After your grandmother retired,she purchased an annuity contract for $250,000 that will pay her $25,000 at the end of every year until she dies.The appropriate interest rate for this annuity is 8%.The number of years that your grandmother must live in order to get more value out of the annuity than what she paid for it is closest to:

A) 21
B) 16
C) 8
D) 10