Asked by Jennifer
Molly just received a $5,000 inheritance. She wants to open an IRA for retirement, 40 years from today. If she can earn 11% per year in her IRA, how much will she be able to take out annually for 20 years in retirement?
A) $24,182 B) $35,041 C) $16,250 D) $40,812
A) $24,182 B) $35,041 C) $16,250 D) $40,812