Question
First assume that John and Mary are husband and wife. John is 68 and Mary is 67. Further assume that on July 1 of this
First assume that John and Mary are husband and wife. John is 68 and Mary is 67. Further assume that on July 1 of this year, they decide to donate $500,000 cash in the form of a charitable gift annuity to the Tabor School of Business to fund MBA scholarships. While their donation is cash, part of the gift is paid back to John and Mary as an annuity. Google Gift Annuity ACGA RatesCrescendo Interactive. In this article, you will find single lives and a joint lives tables. Using those tables, answer the following questions: 1. How much money will they receive back from Millikin for each 12-month periodso long as either John or Mary are living?
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