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

Question

Quizplus · Accepted Answer

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