Question
You want to retire on the day you have $750,000 in your savings account. You expect to earn 7 percent, compounded monthly, on your money
- You want to retire on the day you have $750,000 in your savings account. You expect to earn 7 percent,
compounded monthly, on your money during your retirement. Your plan is to withdraw $6,000 a month as retirement income from this account. How many months can you be retired until you run out of money?
a. 180.95 b. 196.66 c. 224.58 d. 233.64
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Financial Management For Nurse Managers And Executives
Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner
4th Edition
1455700886, 9781455700882
