What does a person need if he or she is not able to pay for a planned purchase in full with a check or cash?
A. a credit card
B. good credit score
C. a long-term loan from a bank
D. an interest-free loan from a credit union

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)