If You Have $375,000 in an Account Earning 9% Annually

question 27

Multiple Choice

If you have $375,000 in an account earning 9% annually, what constant amount could you withdraw each year and have nothing remaining at the end of 20 years?

• A) $7,500
• B) $18,750
• C) $66,912
• D) $5,575
• E) $41,080

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Definitions:

Insertion

The attachment site of a muscle tendon to the bone that moves when the muscle contracts.

Reverse Transcriptase

An enzyme that catalyzes the formation of DNA from an RNA template, used by retroviruses in their replication process.

Retroviruses

A group of RNA viruses that insert a DNA copy of their genome into the host cell to replicate, associated with certain cancers and HIV.

RNA Genome

The collection of RNA molecules that encode the genetic information of organisms whose chromosomes are composed of RNA, such as certain viruses.