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On the day you retire, you plan to have $ 1 , 0 0 0 , 0 0 0 in your retirement account. If you

On the day you retire, you plan to have $1,000,000 in your retirement account. If you can earn 7% compounded monthly, how much can you withdraw each month and leave a zero balance in the account. Assume you will spend the money over a 30-year period.
A. $70,000
B. $6.653
C. $5,250
D. $7,225
E. $3,755
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