Quiz 1: Fin 819-02

17. After retirement, you expect to live for 30 years. You would like to have $80,000 income each year. How much should you have saved in the retirement to receive this income, if the interest is 10% per year (assume that the payments start at the year of the retirement)? A) $754,153 . B) $1,600,300 . C) $829,568 . D) None of the above . Answer: D ................
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