Question
Assume that at retirement you have accumulated $500,000 in a variable annuity contract. The assumed investment return is 6%, and your life expectancy is 15
Assume that at retirement you have accumulated $500,000 in a variable annuity contract. The assumed investment return is 6%, and your life expectancy is 15 years. If the first year's actual investment return is 8%, what is the starting benefit payment?
the correct answer is :$52,452.73
can you please explain why its not 51,481.38
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Financial Times Guide To The Financial Markets
Authors: Glen Arnold
1st Edition
0273730002, 978-0273730002
