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Question
A pension plan has promised to pay out $25 million per year over the next 15 years to its employees. Actuaries estimate the rate of return on the fund's assets will be 5.50%. What amount of pension fund reserves (to the nearest dollar) are needed for the plan to be fully funded?
A. $375,000,000
B. $310,945,678
C. $250,939,524
D. $202,345,555
E. $198,466,231
Answer
This answer is hidden. It contains 42 characters.
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