Your Uncle Has $375,000 and Wants to Retire

question 57

Multiple Choice

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

• A) $28,243.21
• B) $29,729.70
• C) $31,294.42
• D) $32,859.14

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Definitions:

Metacarpals

The five long bones in the hand that are located between the wrist (carpal bones) and the fingers (phalanges).

Tarsals

The group of seven bones in the foot located between the lower leg bones and the metatarsals of the foot.

Metatarsals

The five long bones in the foot located between the ankle and toes, crucial for walking and movement.

Foramen

A natural opening or passage, especially in a bone, through which blood vessels, nerves, or ligaments may pass.