Question
Suppose you have a pension where once you turn 65 you will receive ten annual payments of $50,000. If you are about to turn 50
Suppose you have a pension where once you turn 65 you will receive ten annual payments of $50,000. If you are about to turn 50 and will receive the first payment in 15 years, but wish to have the money sooner, you could borrow against the pension. If interest rates are 5%, how much could you borrow today?
| 1. | $236,170.80 | |
| 2. | $550,000.00 | |
| 3. | $300,250.20 | |
| 4. | $195,000.04 | |
| 5. | $450,275. |
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Comparative Public Budgeting
Authors: George M Guess
2nd Edition
1316648109, 978-1316648100
