Your Uncle Is About to Retire,and He Wants to Buy

question 155

Multiple Choice

Your uncle is about to retire,and he wants to buy an annuity that will provide him with $80,000 of income a year for 20 years,with the first payment coming immediately.The going rate on such annuities is 5.25%.How much would it cost him to buy the annuity today?

• A) $955,507.24
• B) $1,202,089.76
• C) $1,027,427.14
• D) $1,243,186.84
• E) $1,058,249.96

---

Definitions:

Web Programs

Applications accessed over a network such as the internet, designed to enable users to perform tasks or access services through a web browser.

PHP

A popular general-purpose scripting language that is especially suited to web development, capable of generating dynamic page content.

Client-side

Refers to operations that are performed by the client in a client-server relationship, commonly in web development, affecting the user’s experience directly within their browser.

Scripting Language

A simple programming language that’s limited to performing a set of specialized tasks.