Retirement plan guarantees

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Reference no: EM13951650

A retirement plan guarantees that you pay to your estate a fixed amount per year for 20 years. at the time of retirement you will have 470,000$ to your credit in the plan. The plan anticipates earning 6% interest during the period of time you are receiving payments. How much will your annual benefits be?

Between 40,000 and 45,000, between 45,000 and 50,000, between 50,000 and 55,000 or more than 55,000?

Reference no: EM13951650

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