A man retires at the age of 60 years and his employer gives him pension of Tk. 1,200 for the rest of his life. Reckoning his expectation of life to be 13 years and that interest is at 4% per annum, what single sum is equivalent to this person?

2. A man retires at the age of 60 years and his employer gives him pension of Tk. 1,200 for the rest of his life. Reckoning his expectation of life to be 13 years and that interest is at 4% per annum, what single sum is equivalent to this person