Assume That at Retirement You Have Accumulated $825,000 in a Variable

question 69

Multiple Choice

Assume that at retirement you have accumulated $825,000 in a variable annuity contract. The assumed investment return is 5.5%, and your life expectancy is 18 years. What is the hypothetical constant-benefit payment?

• A) $73,358.93
• B) $33,333.33
• C) $51,481.38
• D) $52,452.73
• E) The answer cannot be determined from the information provided.

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Definitions:

Agreeableness

A personality trait characterized by compassion, cooperativeness, and a desire to maintain positive social relationships.

Neuroticism

A personality trait characterized by anxiety, fear, moodiness, worry, envy, frustration, jealousy, and loneliness.

Reciprocal Determinism

Reciprocal Determinism is a concept introduced by Albert Bandura which posits that a person's behavior is influenced by personal factors and their environment, and these factors influence each other.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, emphasizing the role of reinforcement in shaping actions.