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having saved up a nest egg of $1.5 million, retires this year and looks forward to a 30-year retirement. If his nest egg is expected

having saved up a nest egg of $1.5 million, retires this year and looks forward to a 30-year retirement. If his nest egg is expected to earn 9% APR and is compounded monthly, what will be his monthly income during retirement?

$50,000.00

$17,205.12

$14,600.45

$12,069.34

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