Today, you are retiring. You have a total of $289,416 in your retirement savings. You want to withdraw $2,500 at the beginning of every month, starting today and expect to earn 4.6 percent, compounded monthly. How long will it be until you run out of money?
A) 29.97 years
B) 8.56 years
C) 22.03 years
D) 12.71 years
E) 18.99 years
Correct Answer:
Verified
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