Father Is About to Retire, and He Wants to Buy

question 111

Multiple Choice

father is about to retire, and he wants to buy an annuity that will provide him with $85,000 of income a year for 25 years, with the first payment coming immediately.The going rate on such annuities is 5.15%.How much would it cost him to buy the annuity today?

• A)$1,063,968
• B)$1,119,966
• C)$1,178,912
• D)$1,240,960
• E)$1,303,008

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Definitions:

Transsexual

An individual whose gender identity does not align with their biological or assigned sex at birth, often seeking to transition to the gender they identify with through medical interventions.

Hormone Treatments

Medical therapies aimed at adjusting or replacing hormones in the body, often used in gender affirming procedures or to treat hormonal imbalances.

Aesthetic Surgeries

Surgical procedures aimed at enhancing or modifying one's appearance for cosmetic rather than medical reasons.

Canada

A country located in the northern part of North America, known for its vast landscapes, multicultural cities, and bilingualism (English and French).