Mrs. Hart, at age 65, can expect to live for 25 years. If she can invest at 6% per annum compounded monthly, how much does she need now to guarantee herself $800 every month for the next 25 years?
Do you want more help for this question? I actually did post a detailed answer but I think it came in at exactly the same time as the other reply and mine vanished. I was a bit annoyed and I just posted the final answer. If you need me to help more I can. Let me see what you have done first though.
+2 
+118653 
