What annual annuity can be withdrawn

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Reference no: EM131607219

1. With $1.5 million in an account expected to earn 8% annually over the retiree's 30 years of life expectancy, what annual annuity can be withdrawn, beginning at end of first year?

112,150

120,000

123,371

133,241

2. What is the present value of the following set of cash flows at an interest rate of 6%: $1,050 today, $2,500 at end of year 1, $3,000 at end of year 3, and $4,000 at end of year 5?

8412

8916

8903

9437

Reference no: EM131607219

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