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Mai, age 40, is leaving the workforce. The average life expectancy for a 40-year old female is age 90. She has the opportunity to commute
- Mai, age 40, is leaving the workforce. The average life expectancy for a 40-year old female is age 90. She has the opportunity to commute the value of her pension. Assuming an expected rate of return of 5%, what is the lump sum payment required today to equal $1,000 of annual pension income payable beginning on her 65th birthday?
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Introductory Statistics Exploring The World Through Data
Authors: Robert Gould, Colleen Ryan
2nd Edition
9780321978509, 321978277, 321978501, 978-0321978271
