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Charlotte has been contemplating retirement for a long time. She has been working full - time since she graduated from high school. She has saved

Charlotte has been contemplating retirement for a long time. She has been working full-time since she graduated from high school. She has saved a little with each pay cheque and does not know if her savings can carry her throughout her retirement. She has turned to you for help and explains that to date, she has saved $70,000 and wishes to receive $600 a month for spending money. At an interest rate of 6%, compounded monthly, how many months will her money last?
Question 67Select one:
a.
243 months
b.
183 months
c.
270 months
d.
173 months
e.
176 months

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