Multiple Choice
You have just retired with savings of $1.5 million.If you expect to live for 30 years and to earn 8% a year on your savings,how much can you afford to spend each year? Assume that you spend the money at the start of each year.
A) $112,148.50
B) $120,000.00
C) $123,371.44
D) $133,241.15
Correct Answer:
Verified
Correct Answer:
Verified
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