If Allison Has Saved $1,000,000 Upon Retirement, How Much Can

Multiple Choice

If Allison has saved $1,000,000 upon retirement, how much can she live on each year if she can earn 6% per year and will end with $0 when she expects to die 25 years after retirement?

A) $295,334
B) $20,953
C) $70,952
D) $78,229