Mathematics, 21.01.2021 01:00 steven983

Caitlin invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 88. Caitlin invested $1,000,000 in the annuity, which earns 4.1% APR, compounded monthly. With this annuity, what is Caitlin's monthly payment amount? A. $3907.93
B. $4100.00
C. $5601.87
D. $5432.86

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Caitlin invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 88. Caitlin invested $1,000,000 in the annuity, which earns 4.1% APR, compounded monthly. With this annuity, what is Caitlin's monthly payment amount? A. $3907.93 B. $4100.00 C. $5601.87 D. $5432.86

Answers

Another question on Mathematics

Caitlin invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 88. Caitlin invested $1,000,000 in the annuity, which earns 4.1% APR, compounded monthly. With this annuity, what is Caitlin's monthly payment amount? A. $3907.93
B. $4100.00
C. $5601.87
D. $5432.86