Approximately How Much Should Be Accumulated by the Beginning of Retirement

question 105

Multiple Choice

Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years,during which time the fund will earn 8% interest with monthly compounding?

• A) $261,500.00
• B) $323,800.00
• C) $578,700.00
• D) $690,000.00

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