Nadine is retiring at age 62 and expects to live to age 85.On the day she retires,she has $402,000 in her retirement savings account.She is somewhat conservative with her money and expects to earn 6 percent during her retirement years.How much can she withdraw from her retirement savings each month if she plans to spend her last penny on the morning of her death?
A) $1,909.92
B) $2,147.78
C) $2,219.46
D) $2,416.08
E) $2,688.77
Correct Answer:
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