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Jimmy and Jasmine, both age 40, have $80,000 of combined retirement assets. They both expect to retire at the age 65 with a life expectancy
Jimmy and Jasmine, both age 40, have $80,000 of combined retirement assets. They both expect to retire at the age 65 with a life expectancy of 100 years old. They expect to earn 10% on the assets within their retirement accounts before retirement and 8% during their retirement. If they do not make any additional contributions to their account and they receive a fixed annual annuity benefit for life, what is the annual benefit (annuity due) amount they will receive during retirement?
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