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For a Retiree Who Anticipates Living 30 Years,can Earn 8

Question 87

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For a retiree who anticipates living 30 years,can earn 8 percent on his/her investment and will require $25,000 per year,how much in retirement funds will s/he need on the date of retirement?
(a)$281,450
(b)$810,000
(c)$750,000
(d)$303,966

Correct Answer:

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(a)$25,000 × 11.258 ...

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