Ken has just retired. His Roth IRA has a present value of $524,856.00 and has an interest rate of 3.4%, compounded annually. In addition, he receives a yearly pension of $32,615.12. Given that Ken plans to draw from his Roth IRA for the next fifteen years, find his total annual income.
a.
$86,483.17
b.
$77,862.30
c.
$50,503.76
d.
$49,915.55
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