Today,you Are Retiring

question 48

Multiple Choice

Today,you are retiring.You have a total of $387,419 in your retirement savings and have the funds invested at a guaranteed 3.68 percent,compounded monthly.You want to withdraw $1,500 at the beginning of every month,starting today.You also want the withdrawals to stop when your account balance declines to $100,000.For how many years can you make withdrawals?

• A)36.52 years
• B)34.43 years
• C)34.22 years
• D)35.24 years
• E)36.22 years

---

Definitions:

Recognizes Familiar

The ability to identify and acknowledge known faces, places, or objects.

Anterior Fontanel

The largest soft spot on a baby's head, where the skull bones have not yet fused, allowing for brain growth.

Routine Assessment

Regular evaluations or check-ups to monitor and assess health, performance, or liability within a system or individual.

First Rattle

A toy designed for infants to grasp and shake, often marking an early developmental milestone in hand-eye coordination and sensory exploration.