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What is the maximum amount can annually spend

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Problem 1: Auntie Kitty sells her home for $150,000, which is then invested to earn 6 percent annually. If her life expectancy is ten years, what is the maximum amount she can annually spend on a nursing home, doctors, and taxes?

Problem 2: If the return were to double to 12 percent, will the amount she may spend each year more than double?

Reference no: EM132949737

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