Caitlin invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 88. Caitlin invested $1,000,000 in the annuity

Question

Caitlin invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 88. Caitlin invested $1,000,000 in the annuity, which earns 4.1% APR, compounded monthly. With this annuity, what is Caitlin’s monthly payment amount?

A. $3907.93
B. $4100.00
C. $5601.87
D. $5432.86​

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Thu Hương 3 years 2021-07-30T13:19:42+00:00 1 Answers 8 views 0

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    0
    2021-07-30T13:21:29+00:00

    Answer:

    $5601.87

    Step-by-step explanation

    i just took the quiz

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