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You are saving for retirement. To livecomfortably, you decide that you will need$2.5 million by the time you are 65. If you assume you are
You are saving for retirement. To livecomfortably, you decide that you will need$2.5 million by the time you are 65. If you assume you are able to dothat, and will live 20 more years(until age85), the amount you can withdraw at the end of each of those years at an interest rate of5% before your retirement fund is empty is closestto:
A. 72,987
B. 197, 987
C. 75,606
D. 200,606
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