Determining the finance annuity

Reference no: EM1329696

1. Rupert is 76 years old and he expects to live 16 years. He wants to set up an annuity to make level payments at the end of each year he expects to live. He has $560,000; if the interest rate is 7%, how much can he expect to receive each year?

A. $44,521.36
B. $52,513.61
C. None of the Above
D. $62,366.55

Reference no: EM1329696

Questions Cloud

Explain mission statement for a website : Explain Mission Statement for a Website and Discuss any three factors that you will consider while determining the mission of a Web site

Important information about costs : List all of the types of costs that can be associated with a product and Why does the convenience-store industry need to cut its costs

Explain defining web site target users : Explain Defining Web Site Target Users and Research the Internet on the importance of defining user population for a Web site

Describe the flow of materials : Describe the flow of materials to this organization, the organization's function, and the customers it serves and Compare and contrast these practices with other supply chain practices, both domestic and global.

Determining the finance annuity : Rupert is 76 years old and he anticipates to live 16 years. He wants to set up annuity to make level payments at the end of each year he expects to live-how much can he expect to receive each year?

Impact of global expansion on supply chain : What impact has global expansion had on supply chain practices

Explain e commerce : Explain E commerce and describe three factors that would cause a company to continue doing business in traditional ways and avoid electronic commerce

Current system of work affect business and team : How will his current system of work affect his business and team? How can Bill improve his quality of work?

Manufacturing supply chain : Supply Chain and Operations Management and describe how a service supply chain is similar to a manufacturing supply chain?

User Account

All Pages