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Today at 12:46 AM
Mathematics

Answered

Suppose you have decided to retire as soon as you have saved $ 130,000. Your plan is to
put $ 300 each month into an ordinary annuity that pays an annuity interest rate of 8 %.
If you are now 20 years old, how old will you be when you retire?
years Done

Answer :

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Today at 12:51 AM

Answer:

For some people, certainly! When my father died, he left my mother $50,000. My mother is very risk adverse and doesn’t understand the stock market’s ups and downs. We decided that the best investment for her would be an annuity. She deposited her $50k at her local credit union and now receives $300 each and every month to supplement her social security and pension. When she dies, the credit union will return the $50k to her beneficiaries.

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