Your Uncle Has $375,000 and Wants to Retire

question 22

Multiple Choice

Your uncle has $375,000 and wants to retire.He expects to live for another 25 years and to earn 7.5% on his invested funds.How much could he withdraw at the end of each of the next 25 years and end up with zero in the account?

• A)$28,843.38
• B)$30,361.46
• C)$31,959.43
• D)$33,641.50
• E)$35,323.58

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Definitions:

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Thick Glasses

Eyeglasses with lenses that are significantly thicker than average, usually prescribed for high degrees of short-sightedness or far-sightedness.

Hearing Aid

Electronic device designed to improve a person's hearing by making sound audible to a person with hearing loss.

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Communication methods that do not involve speaking, including body language, facial expressions, and gestures.