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Answer the Question. -Suppose You Are 25 Years Old and Would Like to Would

Question 243

Multiple Choice

Answer the question.
-Suppose you are 25 years old and would like to retire at age 65. Furthermore, you would like to have a retirement fund from which you can draw an income of $192,644 per year-forever! How
Can you do it? Assume a constant APR of 4%.


A) Deposit $4691.10 per month.
B) Deposit $3324.38 per month.
C) Deposit $3717.96 per month.
D) Deposit $4074.67 per month.

Correct Answer:

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