Auntie Kitty sells her home for $150,000, which is then invested to earn 4 percent annually. If her life expectancy is fifteen years, what is the maximum amount she can annually spend on a nursing home, doctors, and taxes? Use Appendix D to answer the question. Round your answer to the nearest dollar. The maximum amount that can be annually spend is $ .

If the return were to double to 8 percent, will the amount she may spend each year more than double? Use Appendix D to answer the question. Round your answer to the nearest dollar. If the return were to double, the amount that can be annually spend will less than double and will be equal to $