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What is the maximum amount she can annually spend

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Question - Auntie Kitty sells her home for $150,000, which is then invested to earn 6 percent annually. If her life expectancy is fifteen years, what is the maximum amount she can annually spend on a nursing home, doctors, and taxes? Use Appendix D to answer the question. Round your answer to the nearest dollar.

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

Reference no: EM133023953

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