Multiple Choice
If you are age 20, have no accumulated wealth, and have an expected average annual income of $36,000, how much should you consume each year if you want to retire at age 65 and expect to live until age 80? You desire to leave no estate and to consume an equal amount in each of the next 60 years.
A) $36,000
B) $31,000
C) $27,000
D) $22,000
E) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
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