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Josh Ackerman, Having Saved Up a Nest Egg of $1

Question 19

Multiple Choice

Josh Ackerman, having saved up a nest egg of $1.5 million, retires this year and looks forward to a 30-year retirement.If his nest egg is expected to earn 9% APR and is compounded monthly, what will be his monthly income during retirement?


A) $50,000.00
B) $17,205.12
C) $14,600.45
D) $12,069.34

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