Today,you Are Retiring

question 60

Multiple Choice

Today,you are retiring. You have a total of $413,926 in your retirement savings and have the funds invested such that you expect to earn an average of 3%,compounded monthly,on this money throughout your retirement years. You want to withdraw $2,500 at the beginning of every month,starting today. How long will it be until you run out of money?

• A) 185.00 months
• B) 213.29 months
• C) 227.08 months
• D) 236.84 months
• E) 249.69 months

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Definitions:

Existing Table

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A field in a database or spreadsheet that retrieves data from another table or list based on a specified criterion.

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