Prof annuity corp offers a lifetime annuity to retiring, Finance Basics

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Prof annuity corp offers a lifetime annuity to retiring

Prof Annuity Corp offers a lifetime annuity to retiring professors.For a payment of $80,000 at age 65, the firm will the pay retiringprofessor $600 a month til death

a. If the professor's remaining life expectancy is 20 years, what is the effective annual rate? What is the monthly rate on Annuity?

b. if the monthly interest rate is 0.5%, what monthly annuity payment can the firm offer to the retiring professor?

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Finance Basics: Prof annuity corp offers a lifetime annuity to retiring

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Finance Basics: Prof annuity corp offers a lifetime annuity to retiring

Reference No:- TGS0610122

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Recent Questions Asked Finance Basics

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Reference No:- TGS0610122

Recent Questions Asked Finance Basics

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