With $15 Million in an Account Expected to Earn 8 Percent

question 102

Multiple Choice

With $1.5 million in an account expected to earn 8 percent annually over the retiree's 30 years of life expectancy, what annual annuity can be withdrawn, beginning today?

• A)$112,150
• B)$120,000
• C)$123,371
• D)$133,241 $1,500,000 = pmt

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