SUPPO LOGOT Question An investor will retire on his 66th birthday and use all $250,000 of his retirement savings to purchase a ten-year certain and life annuity with discrete annual payments. (This is a whole life annuity, with the first ten payments guaranteed.) The annuity has the following characteristics: i. The first benefit payment is distributed on the investor s 67th birthday ii. The interest rate is 6% iii. Mortality follows the Illustrative Life Table with the following values: 166 = 73733.37 176 = 51171.51 276 = 5.94925 Calculate the annual benefit that the investor will receive. Possible Answers A