Bosley has $750,000 which is earning 7.2% compounded monthly. At the end of every month for the next 10 years he plans to withdraw $5,000. After that he wants to increase his equal monthly withdrawals to the largest amount possible for 15 more years. What is that amount?
A) $5,733
B) $5,917
C) $6,029
D) $6,315
E) $6,977
Correct Answer:
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