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5) A 65-year-old wishes to convert the cash value of his insurance policy into an annuity. He can select an annuity that will last 15
| 5) | A 65-year-old wishes to convert the cash value of his insurance | ||||||
| policy into an annuity. He can select an annuity that will last 15 years | |||||||
| or one that lasts 20 years. If the cash value is $450,000 and interest rates | |||||||
| are 5.25%, how much less per year will he receive if he chooses the | |||||||
| 20-year annuity? | |||||||
| 15-year annuity | PYT = | $44,089.72 | |||||
| 20-year annuity | PYT = | $36,878.53 | |||||
| Difference = | |||||||
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Beyond Agile Auditing Three Core Components To Revolutionize Your Internal Audit Practices
Authors: Clarissa Lucas
1st Edition
1950508676, 978-1950508679
