Calculate the quarterly premium of a pension policy, Mathematics

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 _____________

Posted Date: 2/28/2013 4:34:48 AM | Location : United States







Related Discussions:- Calculate the quarterly premium of a pension policy, Assignment Help, Ask Question on Calculate the quarterly premium of a pension policy, Get Answer, Expert's Help, Calculate the quarterly premium of a pension policy Discussions

Write discussion on Calculate the quarterly premium of a pension policy
Your posts are moderated
Related Questions

Explain Identifying Conic Sections The graph of a quadratic equation in the variables x and y, like this one, x 2 + 3y 2 + 6y = -4, is a conic sections. There are three kind

In parallelogram ABCD, ∠A = 5x + 2 and ∠C = 6x - 4. Find the evaluation of ∠A. a. 32° b. 6° c. 84.7° d. 44° a. Opposite angles of a parallelogram are same in measu

#question.Find the slope of the line that passes through (7, 3) and (9, 6). Simplify your answer and write it as a proper fraction, improper fraction, or integer. .

For this point we've only looked as solving particular differential equations. Though, many "real life" situations are governed through a system of differential equations. See the

what are the advantages and disadvantages of both Laspeyres and Paasche index


Connecticut state sales tax is 6%. Lucy purchases a picture frame in which costs $10.50 What is the Connecticut sales tax on this item? Find out 6% of $10.50 by multiplying $10

what are fractions

Describe about Arithmetic and Geometric Series? When the terms of a sequence are added together instead of separated by commas, the sequence becomes a series. You will use seri