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,

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asked Feb 17, 2022 62.3k views

2 votes

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

Mathematics
high-school

Pavel Slepiankou asked

by Pavel Slepiankou

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2 Answers

6 votes

Answer: C. $5601.87

Step-by-step explanation: took the quiz.

Recneps answered Feb 20, 2022

by Recneps

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9 votes

Answer:

$5601.87

Explanation

i just took the quiz

Kyw answered Feb 22, 2022

by Kyw

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