Question
Mary wishes to annuitize the cash value of her insurance policy at retirement. The cash value is $800,000. What payment (to the nearest dollar) can
| Mary wishes to annuitize the cash value of her insurance policy at retirement. The cash value is $800,000. What payment (to the nearest dollar) can she expect if she wishes to receive 20 years of payments (starting next year) and interest rates are 3.00%? |
| A. | $53,377 | |
| B. | $53,773 | |
| C. | $53,174 | |
| D. | $47,773 |
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Financial Accounting The Impact On Decision Makers
Authors: Gary A Porter, Curtis L Norton
7th Edition
1439080526, 9781439080528
