Graham Bell has just retired after 30 years with the telephonecompany. His total pension funds have an accumulated value of$400,000, and his life expectancy is 16 more years. His pensionfund manager assumes he can earn a 10 percent return on hisassets.
What will be his yearly annuity for the next 16 years?(Use a Financial calculator to arrive atthe answer. Round the final answer to the nearest dollaramount.)