Let’s pretend that we buy an annuity at the age of 70 with how much money we have in total from our index fund investing. Use this number: $1,368,506.12 Let's buy a twenty year annuity that pays us 5% APR compounded monthly. A. How much money will we get paid each month? B. How much money in total will we get paid back? C. How much interest will we make from the annuity?
Let’s pretend that we buy an annuity at the age of 70 with how much money we have in total from our index fund investing. Use this number: $1,368,506.12 Let's buy a twenty year annuity that pays us 5% APR compounded monthly. A. How much money will we get paid each month? B. How much money in total will we get paid back? C. How much interest will we make from the annuity?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Hi there, you guys have already helped me with this question but I accidentally plugged in the wrong value. I have corrected the value and need help with this updated question.
Let’s pretend that we buy an annuity at the
age of 70 with how much money we have in
total from our index fund investing. Use this
number: $1,368,506.12
Let's buy a twenty year annuity that pays us 5%
APR compounded monthly.
A. How much money will we get paid each
month?
B. How much money in total will we get paid
back?
C. How much interest will we make from the
annuity?
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