Solve the problem. Round to the nearest cent unless otherwise noted.You just won $4,500,000 in the state lottery and want to know if it is enough money for you to retire now.a. How much can you withdraw every month for the next 30 years if you put your money into a payout annuity earning 3.65%?b. How much could you withdraw every month without reducing your principal balance?

A. a. $29,643.38, b. $19,710.00
B. a. $490,157.96, b. $164,250
C. a. $20,585.68, b.$13,687.50
D. a. $20,358.03, b. $13,350.00


Answer: C

Mathematics

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