If Allison Has Saved $1,000,000 Upon Retirement, How Much Can

question 33

Multiple Choice

If Allison has saved $1,000,000 upon retirement, how much can she live on each year if she can earn 6% per year and will end with $0 when she expects to die 25 years after retirement?

• A)$295,334
• B)$20,953
• C)$70,952
• D)$78,229