Multiple Choice
After retirement,you expect to live for 25 years.You would like to have $75,000 income each year.How much should you have saved in your retirement account to receive this income if the interest rate is 9% per year? (Assume that the payments start one year after your retirement.)
A) $736,693.47
B) $83,431.17
C) $1,875,000
D) $1,213,487.12
Correct Answer:
Verified
Correct Answer:
Verified
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