uncle is about to retire, and he wants to buy an annuity that will provide him with $75,000 of income a year for 20 years, with the first payment coming immediately.The going rate on such annuities is 5.25%.How much would it cost him to buy the annuity today?
A)$825,835
B)$869,300
C)$915,052
D)$963,213
E)$1,011,374

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The Answer of uncle is about to retire, and he wants to buy an annuity that will provide him with $75,000 of income a year for 20 years, with the first payment coming immediately.The going rate on such annuities is 5.25%.How much would it cost him to buy the annuity today?
A)$825,835
B)$869,300
C)$915,052
D)$963,213
E)$1,011,374

Uncle Is About to Retire, and He Wants to Buy