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

question 96

Multiple Choice

Your uncle is about to retire,and he wants to buy an annuity that will provide him with $53,000 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) $558,149.79
• B) $775,964.35
• C) $680,670.48
• D) $769,157.64
• E) $714,704.01

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Definitions:

Nursing Assistive Personnel

Area of healthcare workers who assist nurses in providing basic care to patients, such as help with mobility, personal hygiene, and daily living activities.

Nursing Process

A systematic approach used by nurses to assess, diagnose, plan, implement, and evaluate care for patients.

Expected Outcomes

Expected conditions of a patient at the end of therapy or a disease process, including the degree of wellness and the need for continuing care, medications, support, counseling, or education.

Nursing Interventions

Actions taken by nurses to improve patient health or to prevent health problems.