William Wallace is planning for retirement. Right now he has $12,000 in his 401(k) account...
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William Wallace is planning for retirement. Right now he has $12,000 in his 401(k) account at work that earns an average of 8.50 percent per year. He is currently 30 years old, and he will invest another $2,500 per year until he retires at age 65. After he retires, how much can he withdraw each year if he expects to live until age 90? Select one: a. $68,860.64 b. $56,976.95 c. $18,982.17 d. $67451.34 e. $43,556.87
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