Question: I'm trying to figure out how I would do this problem in my financial calculator. Grace is retiring today and has $300,000 in her retirement

I'm trying to figure out how I would do this problem in my financial calculator.

Grace is retiring today and has $300,000 in her retirement savings. She expects to earn 8.5 percent per year compounded monthly. How much can she withdraw from her retirement savings each month if she plans to spend her last penny 17 years from now?

Multiple Choice

$18,793.23
$25,500.00
$2,784.88
$33,993.59
$2,832.80

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