Your Aunt Has $500,000 Invested at 5

Multiple Choice

Your aunt has $500,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000 at the beginning of each year, beginning immediately. She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account. What is the maximum number of $45,000 withdrawals that she can make and still have at least
$50,000 left in the account? (Hint: If your solution for N is not an integer, round down to the nearest whole number.)

A) 13
B) 14
C) 15
D) 16
E) 17