Suppose that a person wants to purchase an annuity today that would pay $15,000 after taxes per year
Suppose that a person wants to purchase an annuity today that would pay $15,000 after taxes per year until the end of that person’s life. The insurance policy expects the person to live for 25 more years and can invest the amount received for the annuity at a guaranteed interest rate of 5%. What is the fair price (the amount needed to establish the annuity). Check page 485 in the book. Men if you use a make sure you show your work, even if you use a calculator.
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