You sell valuable artifacts from your household estate for $200,000 an

You sell valuable artifacts from your household estate for $200,000 and want to use the money to
supplement your retirement. You receive the money on your 60th birthday, the day you retire.

You
want to withdraw equal amounts at the end of each of the next 25 years. What constant amount can
you withdraw each year and have nothing remaining at the end of 20 years if you are earning 7%
interest per year?
A) $37,574 B) $28,318 C) $17,162 D) $49,113

ANSWER

C