Your Goal Is to Be Able to Withdraw $5,000 for Each

question 79

Multiple Choice

Your goal is to be able to withdraw $5,000 for each of the next ten years beginning one year from today. The return on the investment is expected to be 12%. The amount that needs to be invested today is closest to:

• A)$44,645.
• B)$36,291.
• C)$28,251.
• D)$50,000.