I am not able to answer to this questions.

I tried to find the FV of the second option and after found the N of first option, but it is not working.

Could you help me please?

Question 6 I: Your answer is incorrect. A 65-year-old man intends to use his retirement funds to purchase an annuity from a life insurance company. Given the amount of money the man has available to invest, the insurance company is able to offer two alternatives. The rst option is to receive $2,875 each month for as long as he lives; the second option is to receive $4,060 each month, but for only 20 years (payments will be made to his estate if he should die before that time). The relevant interest rate is 6 percent per year monthly compounding. How long must the man live so that the first option is a better deal? (Round answers to a decimal places, e.g. 25. Do not round your intermediate calculations.) Man must live for years ' SHOW ANSWER ' LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: 3 of 3 used 0/0 You have surpassed the number of attempts to earn Maximum Points for this question. For this attempt, and any subsequent attempt(s), you will earn points according to the Point Potential policy set by your instructor