Tracy invested in a lifetime annuity that begins payments at age 65 Her life expectancy is 87 Tracy invested 800 000 in the

Question

Tracy invested in a lifetime annuity that begins payments at age 65 Her life expectancy is 87 Tracy invested 800 000 in the annuity which earns 4 5 APR compounded monthly With this annuity what is Tracy s monthly payment amount A 4898 56 B 5123 89 4500 00

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