Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. help please assume that social security pro

help please Assume that Social Security promises you...

50.1K

Verified Solution

Question

Finance

help please
image
Assume that Social Security promises you $45,000 per year starting when you retire 45 years from today (the first $45,000 will get paid 45 years from now). If your discount rate is 4%, compounded annually, and you plan to live for 18 yours after retiring (so that you will receive a total of 10 payments including the first one), what is the value today of Social Security's promise? The value today of Social Securty's promise is $. (Round to the nearest cent)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Starting in Albany, you travel a distance 319 miles in a direction 22.3 degrees north of...

Basic Math
1.2K views

Starting salaries of 95 college graduates who have taken a statistics course have a mean of...

Biology
1.2K views

Match the following characteristic below to the correct class of immunoglobulins Rarely found in body...

Biology
1.2K views

10 Discuss the limitations of enacting fiscal policy during a recession

Statistics
1.2K views

Suppose a credit card company has a fraud detection Service that determines if a card...

Calculus
1.2K views

We can use sigma notation to rewrite the sum 3 5 7 9 31 as...

Calculus
1.2K views

So far we have the following x 16 xv v 16 dx dx dx The...

Calculus
1.2K views

Here is a graph of f x x2 and the line tangent to f x...

Algebra
1.2K views

2 2 43 1 Date This is a 2 page document Directions Classify each function...

Accounting
1.2K views

Prepare the appropriate adjusting entry for the note by Ontario Resources on December 31, 2024...

Accounting
1.2K views

A principios de diciembre, Global Corporation tena $2400 en suministros disponibles. Durante el mes, los...

Finance
1.2K views

The owner of a promissory note will receive a payment of $5,000 plus interest at...