$19$

Multiple Choice $2$ points

A retirement plan guarantees to pay you or your estate a fixed amount each year for $15$ years. At the time of retirement, you will have $$100,000$ to your credit in the plan. The plan anticipates earning $2\mathrm{.}5\%$ interest annually over the period you receive benefits. How much will your annual benefits be assuming the first payment occurs one year from your retirement date?

$$7,264\mathrm{.}89$

$$8,076\mathrm{.}65$

$$7,681\mathrm{.}44$

$$7,358\mathrm{.}18$

$$7,095\mathrm{.}25$

Clear my selection

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