What is monthly amount they will receive during retirement

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Reference no: EM131010087

Kwame and Omarosa, both age 40, have $80,000 of combined retirement assets. They both expect to retire at the age of 65 with a life expectancy of 100 years old. They expect to earn 10% on the assets within their retirement accounts before retirement and 8% during their retirement. If they did not make any additional contributions to their account and they receive a fixed monthly annuity benefit for life, what is the monthly (annuity due) amount they will receive during retirement?

Reference no: EM131010087

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