You will retire in 35 years, and plan to move to the Southwestern US. You...
50.1K
Verified Solution
Link Copied!
Question
Finance
You will retire in 35 years, and plan to move to the Southwestern US. You are considering buying a new insurance product that will cover your US health care costs in retirement. The monthly insurance premium is $40 and you will pay this amount at the end of each month until you retire. You anticipate that you will live for 20 years in retirement, and that your health care expenses will be $10000 in the first year, and will grow at the rate of 10% per year. Expected returns are a constant 12% per year. Should you buy this product? (All figures are in Canadian dollars for simplicity.)
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.