Multiple Choice
After retirement, you expect to live for 25 years. You would like to have $75,000 income each year. How much should you have saved in the retirement to receive this income, if the interest is 9% per year (assume that the payments start one year after the retirement) ?
A) $736,693.47
B) $6,352,567.22
C) $1,875,000
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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