Assume that at retirement you have accumulated $500,000 in a variable annuity contract.The assumed investment return is 6% and your life expectancy is 15 years.What is the hypothetical constant benefit payment
A)$30,000.00
B)$33,333.33
C)$51,481.38
D)$52,452.73
E)Cannot tell without additional information

Question

Quizplus · Accepted Answer

PV = -500,000, i = 6, n = 15, PMT = 51,481.38.

Assume That at Retirement You Have Accumulated $500,000 in a Variable