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Rita is retired and has saved $50,000. She wishes to receive $500 a month for spending money. At an interest rate of 9%, compounded monthly,
Rita is retired and has saved $50,000. She wishes to receive $500 a month for spending money. At an interest rate of 9%, compounded monthly, how many months would her money last?
a)185 months
b)75 months
c)73 months
d)183 months
e) 60 months
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