What Size Nest Egg Do We Need in Order to Retire

question 65

Multiple Choice

What size nest egg do we need in order to retire with a 20-year annuity that yields $5000 per month if the retirement account pays an APR of 6%?

• A)$678,354.2
• B)$697,903.9
• C)$701,340.7
• D)$709,541.3

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Definitions:

Exchange Rate

The rate at which one currency can be exchanged for another, often influenced by market conditions, economic indicators, and government policies.

Exchange Rate

The rate at which one currency can be exchanged for another.

Weakens

To reduce in strength, effectiveness, or intensity.

Exchange Rate

The price of one currency expressed in terms of another for conversion.