After saving your entire career, you and your spouse are ready to retire with a nest egg of $$800,000.$ You need to invest this money in a mix of stocks and bonds that will allow you to earn $$7,000$ per month for $20$ years. What annual interest rate $($APR$)$ do you need to earn?

Selected Answer:

$[$None Given$]$

Answers:

$8\mathrm{.}61$ percent

$10\mathrm{.}13$ percent

$7\mathrm{.}37$ percent

$9\mathrm{.}61$ percent