caroline, age 35, is starting her savings plan this year by putting away $2,900.00 at the end of every year until she reaches age 65. she will deposit this money at her local savings and loan at an interest rate of 6%. the future value annuity interest factor is 79.0582.
Based on the information provided, by the time caroline turns 65, he will have

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10-12-2022
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caroline, age 35, is starting her savings plan this year by putting away $2,900.00 at the end of every year until she reaches age 65. she will deposit this money at her local savings and loan at an interest rate of 6%. the future value annuity interest factor is 79.0582.
Based on the information provided, by the time caroline turns 65, he will have

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tutorconsortium650 tutorconsortium650 · Answer 1 · 2022-12-16T06:47:56+01:00

She may deposit this cash in her neighborhood 6% interest savings and loan. The interest factor for future value annuities is 79.0582. According to the facts given, Caroline will have $120,000.25 by the time she turns 65.

What is the annuity's interest rate?

Interest rates vary depending on the annuity type you purchase. Variable annuities' interest rates are based on the success of a linked investment portfolio, whereas fixed annuities' guaranteed returns range from 3% to 5.25%. Bigger interest rate annuities come with a higher chance of financial loss.

Does an annuity pay interest?

More specifically, fixed annuities can give you some security because they guarantee investors an interest rate. Money either is accumulated or She will make a lump amount deposit or regular monthly installments at her neighborhood savings. Age, account balance, and life expectancy are all taken into account while determining payouts.

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