How much will your annual benefits be

Reference no: EM13266388

A retirement plan guarantees to pay you or your estate a fixed amount for 20 years. At the time of retirement, you will have $31,360 to your credit in the plan. The plan anticipates earning 8% interest of annually over the period you receive benefits. How much will your annual benefits be, assuming the first payment occurs one year from your retirement date?

Reference no: EM13266388

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