Answer:
Lisa invest "$2180.81" in her bank.
Step-by-step explanation:
The given values are:
On Lisa's 62nd birthday,
she withdraw = $10,000
The annuity of $A will remain at 3 percent for 40 years. The retirement pension of $10000 lasts 23 years at rate percentage of 3 but begins 40 years later.
⇒ [tex]A\times (\frac{P}{A} ,3 \ percent,40) - 10000 (\frac{P}{A} ,3 \ percent,23)\times \frac{1}{(1.03)40} = 0[/tex]
⇒ [tex]A\times 23.1148 - 10000\times 16.4436\times 0.3066 = 0[/tex]
⇒ [tex]A = 10000\times 16.4436\times \frac{0.3066}{23.1148}[/tex]
⇒ [tex]= 10000\times 16.4436\times 0.0132[/tex]
⇒ [tex]=2180.81[/tex] ($)
