Multiple Choice
Approximately how much must be saved for retirement in order to withdraw $100,000 per year for the next 25 years if the balance earns 8% annually,and the first payment occurs 1 year from now?
A) $1,067,000
B) $1,250,000
C) $2,315,000
D) $2,500,000
Correct Answer:
Verified
Correct Answer:
Verified
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