Saanvi makes 90 dollars comma 000 and estimates that she will need 65% of her preretirement income during retirement. How much income will she need annually in retirement?
Answer
A
50 dollars comma 000
B
45 dollars comma 500
C
58 dollars comma 500
D
60 dollars comma 000
Explanation
Multiply Saanvi’s preretirement income by the percentage she expects to need: $90,000 × 0.65 = $58,500. She will need $58,500 annually in retirement, which is choice B.
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