Your aunt is about to retire, and she wants to buy an annuity that will provide her with $65,000 of income a year for 25 years, with the first payment coming IMMEDIATELY. The going rate on such annuities is 6.25%. How much would it cost her to buy the annuity today?
A) $739,281.38
B) $778,190.93
C) $819,148.35
D) $862,261.42

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The Answer of Your aunt is about to retire, and she wants to buy an annuity that will provide her with $65,000 of income a year for 25 years, with the first payment coming IMMEDIATELY. The going rate on such annuities is 6.25%. How much would it cost her to buy the annuity today?
A) $739,281.38
B) $778,190.93
C) $819,148.35
D) $862,261.42

Your Aunt Is About to Retire, and She Wants to Buy