Question
your grandmother bought an annuity from rock solid life insurance for $360,000 when she retired. In exchange for $360,000, Rock solid will pay her $50000
your grandmother bought an annuity from rock solid life insurance for $360,000 when she retired. In exchange for $360,000, Rock solid will pay her $50000 per year until she dies. The interest rate is 4%. How long must she live after the day she retired to come out ahead (that is, to get more in value than what she paid in)?
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The Essentials Of Machine Learning In Finance And Accounting
Authors: Mohammad Zoynul Abedin, M. Kabir Hassan, Petr Hajek, Mohammed Mohi Uddin
1st Edition
0367480816, 978-0367480813
