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With $15 Million in an Account Expected to Earn 8% Annually

Question 58

Multiple Choice

With $1.5 million in an account expected to earn 8% annually over the retiree's 30 years of life expectancy, what annual annuity can be withdrawn, beginning today?


A) $112,148.50
B) $120,000.00
C) $123,371.44
D) $133,241.15

Correct Answer:

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