A couple wants to establish an annuity for retirement that will make annual payments of $40,000 from an account that pays 5% interest per year, compounded annually. If the payments are to start right now, how much should be deposited if they plan to live indefinitely? Round to the nearest dollar.

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The Answer of A couple wants to establish an annuity for retirement that will make annual payments of $40,000 from an account that pays 5% interest per year, compounded annually. If the payments are to start right now, how much should be deposited if they plan to live indefinitely? Round to the nearest dollar.

A Couple Wants to Establish an Annuity for Retirement That