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Jane Doe is 29 years old and opens an annuity account with MetLife, which is guaranteeing a 3.5% annual rate of return. She plans to
Jane Doe is 29 years old and opens an annuity account with MetLife, which is guaranteeing a 3.5% annual rate of return. She plans to retire at the age of 62 and has a life expectancy of 87. She wishes to have an annual retirement income of $58,000. How much does she need to deposit into the annuity account annually before retirement to receive that income? Answer in dollars.
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