Question
1.Amanda wants to be able to have yearly withdrawals of $25,000 from her retirement account for a period of 30 years starting a year after
1.Amanda wants to be able to have yearly withdrawals of $25,000 from her retirement account for a period of 30 years starting a year after she turns 65. If she is able to earn a yearly rate if return of 7% in her retirement account during the 30 years of her retirement, what must be the approximate balance in her account on her 65th birthday?
A-$750,000
B-$357,143
C-$310,226
D-$802,500
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Financial and Management Accounting
Authors: Pauline Weetman
7th edition
1292086599, 978-1292086590
