(Answered) Your parents have an investment portfolio of 400000 and

Finance

Your parents have an investment portfolio of $400,000, and they wish to take out cash flows of $50,000 per year as an ordinary annuity. How long will their portfolio last if the portfolio is invested at an annual rate of 4.50%? Use a calculator to determine your answer.

A) 8.00 years

B) 9.10 years

C) 9.60 years

D) 10.14 years

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