Marty joined his employers defined contribution plan 26 years ago, and is now reaching the plan sponsors normal retirement age. He has accumulated pension assets of $230,070 and is considering purchasing a life annuity with monthly payments beginning at the end of each month. Assuming a nominal return rate of 4.2%, compounded quarterly, and life expectancy of 25 years, what monthly income will he receive from the current pension assets?

Question 21 options:

	$1,252
	$1,238
	$1,832
	$2,100