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You Retire at Age 65 and Expect to Live Another

Question 59

Multiple Choice

You retire at age 65 and expect to live another 30 years.On the day you retire,you have $564,500 saved.You expect to earn 3.5 percent,compounded monthly.How much can you withdraw from your savings each month if you plan to die on the day you spend your last penny?


A) $2,001.96
B) $2,192.05
C) $2,298.17
D) $2,372.00
E) $2,534.86 You retire at age 65 and expect to live another 30 years.On the day you retire,you have $564,500 saved.You expect to earn 3.5 percent,compounded monthly.How much can you withdraw from your savings each month if you plan to die on the day you spend your last penny? A) $2,001.96 B) $2,192.05 C) $2,298.17 D) $2,372.00 E) $2,534.86

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