Option 1: The amount you will receive with this option is calculated using the present value of an ordinary annuity formula. The formula is as follows:
PMT = PV * (r / (1 - (1 + r)^(-n)))
Where PMT is the monthly payment, PV is the present value of the annuity, r is the interest rate per period (monthly in this case), and n is the number of periods (months in this case).
For option 1, the present value of the annuity is $250,000, the interest rate is 5% per year or 0.4167% per month, and the number of periods is 10 years or 120 months. Plugging these values into the formula, we get:
PMT = $250,000 * (0.004167 / (1 - (1 + 0.004167)^(-120)))
PMT ≈ $2,612.16
Therefore, with option 1, you will receive approximately $2,612.16 per month for 10 years.
Option 2: With this option, you will receive monthly payments until your death, assuming an additional 14 years based on the Mortality Table. The amount you will receive depends on how long you live. If we assume you will live for the additional 14 years, the present value of the annuity can be calculated using the same formula as option 1. Plugging in the values, we get:
PMT = $250,000 * (0.004167 / (1 - (1 + 0.004167)^(-168)))
PMT ≈ $2,085.79
Therefore, with option 2, you will receive approximately $2,085.79 per month until your death, assuming an additional 14 years.
Option 3: With this option, you will receive monthly payments until both you and your spouse die, assuming an additional 22 years. The present value of the annuity can be calculated using the same formula as option 1. Plugging in the values, we get:
PMT = $250,000 * (0.004167 / (1 - (1 + 0.004167)^(-264)))
PMT ≈ $1,753.99
Therefore, with option 3, you will receive approximately $1,753.99 per month until both you and your spouse die, assuming an additional 22 years.
You have a policy worth $250,000 that you want to convert into an annuity. You are currently 62 years old and your spouse is 58. The interest rate is 5% per year, and you are considering three options for receiving monthly payments:
Option 1: You will receive monthly payments for 10 years.
Option 2: You will receive monthly payments until your death, assuming an additional 14 years based on the Mortality Table.
Option 3: You will receive monthly payments until both you and your spouse die, assuming an additional 22 years.
The amount you will receive with each option (excluding additional costs and fees) is as follows:
5 answers
Reword this.
Hey I wanna ask why do people compare shinobu and mitsuri i mean both are really good and important characters. they both are equally strong as mitsuri is strong in strength and shinobu in intelligence and why do some mitsuri stans hate shinobu and shinobu stans hate mitsuri i just don't understand it just makes me like this fandom less
Hey I wanna ask why do people compare shinobu and mitsuri i mean both are really good and important characters. they both are equally strong as mitsuri is strong in strength and shinobu in intelligence and why do some mitsuri stans hate shinobu and shinobu stans hate mitsuri i just don't understand it just makes me like this fandom less
I have a question about why some fans tend to compare and pit Shinobu and Mitsuri against each other. Both characters are valuable and possess unique strengths. Mitsuri excels in physical strength while Shinobu demonstrates exceptional intelligence. It is perplexing to me why some Mitsuri supporters dislike Shinobu and vice versa. This divisive attitude within the fandom diminishes my enjoyment and appreciation of it.
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I'm glad you're interested! If you have any more questions or need further information, feel free to ask.
3 answers