Multiple Choice
Marie has a $1,200,000 investment portfolio and she wishes to spend $87,500 per year as an ordinary annuity.If the investment account earns 5% annually,how long will her portfolio last? Use a calculator to determine your answer.
A) 11.43 years
B) 14.17 years
C) 19.86 years
D) 23.72 years
Correct Answer:
Verified
Correct Answer:
Verified
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