you plan to retire when you are 65th years


You plan to retire when you are 65th years old.  You are now 25 years old.  You plan to buy a pension annuity that will pay you $100,000 per year starting one year after you turn 65 and continuing until you celebrate your 80th birthday.  The pension plan requires you make equal quarterly contributions starting one quarter after your 25th birthday and until you have reached your 65th birthday.  If the interest rate assumed throughout this plan is 4% per year, what is the quarterly contribution (or policy premium)?

            ANSWER: Quarterly premium _____________

Request for Solution File

Ask an Expert for Answer!!
Mathematics: you plan to retire when you are 65th years
Reference No:- TGS0207544

Expected delivery within 24 Hours