An old man currently has $500,000 that can be invested and wants to retire now. He expects to live for another 20 years, and to be able to earn 12% compounded annually on his invested funds. How much could he withdraw at the end of each year over the next 20 years? O $62,447.08 O $70,568.92 O $58,673.48 O $66,939.39

An old man currently has $500,000 that can be invested and wants to retire now. He expects to live for another 20 years, and to be able to earn 12% compounded annually on his invested funds. How much could he withdraw at the end of each year over the next 20 years? $62,447.08 $70,568.92 $58,673.48 $66,939.39 An old man currently has $500,000 that can be invested and wants to retire now. He expects to live for another 20 years, and to be able to earn 12% compounded annually on his invested funds. How much could he withdraw at the end of each year over the next 20 years? $62,447.08 $70,568.92 $58,673.48 $66,939.39