Let’s pretend that we buy an annuity at the age of 70 with how much money we have in total from our index fund investing. Use this number: $1,368,506.12 Let's buy a twenty year annuity that pays us 5% APR compounded monthly. A. How much money will we get paid each month? B. How much money in total will we get paid back? C. How much interest will we make from the annuity?

Let’s pretend that we buy an annuity at the age of 70 with how much money we have in total from our index fund investing. Use this number: $1,368,506.12 Let's buy a twenty year annuity that pays us 5% APR compounded monthly. A. How much money will we get paid each month? B. How much money in total will we get paid back? C. How much interest will we make from the annuity?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Now let’s pretend that we buy an annuity at the age of 70 with how much money we have in total from our index fund investing. Use this number: $1,188,506.12 Let’s buy a twenty year annuity that pays us 5% APR compounded monthly. 4. How much money will we get paid each month? 5. How much money in total will we get paid back? 6. How much interest will we make from the annuity?
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