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