Your Aunt Has $500,000 Invested at 5

question 30

Multiple Choice

Your aunt has $500,000 invested at 5.5%, and she now wants to retire.She wants to withdraw $45,000 at the beginning of each year, beginning immediately.When she makes her last withdrawal (at the beginning of a year) , she also wants to have enough left in the account so that you can make a final withdrawal of $50,000 at the end of that year (her last withdrawal is at the beginning of the year, your withdrawal is at the end of that same year) .What is the maximum number of $45,000 withdrawals that she can make and still have enough in the account so that you can make a $50,000 withdrawal at the end of the year of her last withdrawal? (Hint: If your solution for N is not an integer, round down to the nearest whole number.)

• A) 13
• B) 14
• C) 15
• D) 16
• E) 17

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Definitions:

Tartar

A hard deposit that forms on teeth when plaque accumulates and mineralizes, leading to various dental problems.

Oral Cavity

The mouth, including the lips, teeth, gums, and the anterior portion of the tongue, where digestion begins.

Roof of Mouth

The upper interior surface inside the mouth, comprising the hard and soft palate.

Nursing Assistive Personnel

Nursing Assistive Personnel are healthcare workers who provide basic care under the supervision of nursing staff, including helping patients with activities of daily living.