Assume That at Retirement You Have Accumulated $500,000 in a Variable

question 21

Multiple Choice

Assume that at retirement you have accumulated $500,000 in a variable annuity contract.The assumed investment return is 6% and your life expectancy is 15 years.What is the hypothetical constant benefit payment?

• A)$30,000.00
• B)$33,333.33
• C)$51,481.38
• D)$52,452.73.
• E)cannot tell without additional information.

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Definitions:

Gerontologists

Scientists who study the aging process and the problems that elderly individuals might encounter.

Successful Aging

refers to a multidimensional process involving the maintenance of physical health, mental abilities, social competence, and overall satisfaction with life as one ages.

Centenarians

Individuals who live past 100 years of age.

Chronic Disease

A long-lasting health condition that often requires ongoing management and can significantly impact a person’s quality of life.