You are retired,have $264,500 in your savings,withdraw $2,000 each month,and earn 4.5 percent,compounded monthly.How long will it be until you run out of money?
A) 13.67 years
B) 15.25 years
C) 22.08 years
D) 13.02 years
E) 18.78 years
Correct Answer:
Verified
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