Your Aunt Has $680,000 Invested at 5

Multiple Choice

Your aunt has $680,000 invested at 5.5%,and she now wants to retire.She wants to withdraw $45,000 at the beginning of each year,beginning immediately.She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account.For how many years can she make the $45,000 withdrawals and still have $50,000 left in the end?

A) 23.40
B) 24.90
C) 30.00
D) 36.61
E) 29.40