Mai, age 40, is leaving the workforce. The average life expectancy for a 40-year old female is
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- Mai, age 40, is leaving the workforce. The average life expectancy for a 40-year old female is age 90. She has the opportunity to commute the value of her pension. Assuming an expected rate of return of 5%, what is the lump sum payment required today to equal $1,000 of annual pension income payable beginning on her 65th birthday?
Related Book For
Introductory Statistics Exploring The World Through Data
ISBN: 9780321978271
2nd Edition
Authors: Robert Gould, Colleen Ryan
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