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
Ans: D) $40,812
Business
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