en you retire at 65 you can take either $500,000 in cash or an ordinary annuity that promises to pay $47.,488.98 per year for as long as you live. How long must you remain ong the living for the annuity to be a better deal, if the rate of interest is constant at 8% per year? over 25 years 17 years 18 years

When you retire, you wish to have $1 million in your retirement account. Currently, you have $100,000 in the account. If you can generate an annualized return of 12% from your investment, compounded monthly, how many years do you think it will take to have $1 million in the account? 11 years 231 years 19 years 53 years

When you retire at 65, you wish to be able to have $3,000 each month for 25 years. How much would you have to deposit into an account each month, starting when you are 23, if the account earns 7.6% compounded monthly?

You are expected to retire in 35 years from today. If you make an annual deposit of $20,500 at the end of each year into an investment account that pays 6.88% annually, how much money will your retirement account have at the end of 35 years if the interest in compounded.