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Alice has been employed by Tex Mex Corporation for 43 years, and is a participant in its defined benefit pension plan. She will turn 70½ this year and has no plans to retire; she is not an owner of Tex-Mex. Which of the following correctly describes the date Alice must start taking distributions from the account?
A. she must begin distributions by April 1, of this year
B. she must begin distributions by December 31, of this year
C. she must begin taking distributions by April 1, of the year following the year she retires
D. she must begin taking distributions by the date on which she becomes 70½
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Charlotte's firm had sales of $525,000 in the year ended 2000. By the year ended 2012, sales had increased to $1,200,000. What was the average annual rate of increase?
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Morgan Jennings, a geography professor, invests $50,000 in a parcel of land that is expected to increase in value by 12 percent per year for the next five years. He will take the proceeds and provide himself with a 10-year annuity a 12 percent int..
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