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Maria expects to have $750,000 in her retirement savings plan when she retires. From that, she plans to take out $4,500 at the beginning of

Maria expects to have $750,000 in her retirement savings plan when she retires. From that, she plans to take out $4,500 at the beginning of every month for 30 years. What annual effective rate of interest will her money have to earn over the 30 years?

A. 5.045%

B. 6.054%

C. 6.225%

D. 7.200%

E. 8.008%

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