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With RM925,050 as retirement fund, Mr David was told that the fund would last for 15 years only if he were to receive RM80,000 per
With RM925,050 as retirement fund, Mr David was told that the fund would last for 15 years only if he were to receive RM80,000 per year, even if inflation is ignored. Mr David still insist on spreading the retirement fund to last for 20 years. If the fund is earning a return of 4% per annum how much should Mr David receive as his annual retirement income (no inflation factor).
Select one:
a. RM68,449
b. RM59,449
c. RM62,449
d. RM65,449
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