Question
Your father bought an annuity from Manulife Financial for $292376 when he retired. In exchange for the $292376 , Manulife will pay his $50000 per
Your father bought an annuity from Manulife Financial for $292376 when he retired. In exchange for the $292376 , Manulife will pay his $50000 per year until he dies. The interest rate is 6%. How long Must he live after the day he retired to come out ahead (that is, to get more in value than what he paid in)?
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Fiduciary Finance Investment Funds And The Crisis In Financial Markets
Authors: Martin Gold
1st Edition
1848448953, 9781848448957
