Tracy invested in a lifetime annuity that begins payments at age 65. Her life
expectancy is 87. Tracy invested $800,000 in the annuity, which earns 4.5%
APR, compounded monthly. With this annuity, what is Tracy's monthly
payment amount?
O
A. $4779.09
O
B. $4898.56
a
c. $4500.00
O
D. $5123.89
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