You Have Just Retired with Savings of $1

question 59

Multiple Choice

You have just retired with savings of $1.5 million.If you expect to live for 30 years and to earn 8% a year on your savings,how much can you afford to spend each year? Assume that you spend the money at the start of each year.

• A) $112,148.50
• B) $120,000.00
• C) $123,371.44
• D) $133,241.15

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Customer Expectations

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