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What amount of income should they expect to receive each

Mr. and Mrs. Jones now have $130,000 in their savings account. They hope to retire in 20 years and want to accumulate sufficient assets to support a 25-year post-retirement period. Assume they make no more additions to the retirement account. They expect to earn on average 10% on their savings account until they retire and then 7% on the account during retirement. What amount of income should they expect to receive each month during retirement?

A. $6,145

B. $6,254

C. $9,897

D. $9,955

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Business Management: What amount of income should they expect to receive each

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