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You Are Retired,have $264,500 in Your Savings,withdraw $2,000 Each Month,and

Question 48

Multiple Choice

You are retired,have $264,500 in your savings,withdraw $2,000 each month,and earn 4.5 percent,compounded monthly.How long will it be until you run out of money?


A) 13.67 years
B) 15.25 years
C) 22.08 years
D) 13.02 years
E) 18.78 years

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