Your 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 Your 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

Your Uncle Is About to Retire,and He Wants to Buy