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How Much Money Does Suzie Need to Have in Her

Question 38

Multiple Choice

How much money does Suzie need to have in her retirement savings account today if she wishes to withdraw $42,000 a year for 25 years? She expects to earn an average rate of return of 9.75 percent.


A) $426,580.50
B) $407,419.81
C) $401,533.33
D) $385,160.98
E) $388,683.83

Correct Answer:

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