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

question 56

Multiple Choice

If Allison has saved $1,000,000 upon retirement, how much money can she live on each year if she can earn 4% per year and will end with $0 when she expects to die 30 years after retirement?

• A) $40,000
• B) $20,953
• C) $17,830
• D) $57,830

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