SOLUTION: If you have $40,000 in your retirement account,and you are currently making 8% interest on your account, how much can you withdraw from it a year without decreasing the amount in y

SOLUTION: If you have $40,000 in your retirement account,and you are currently making 8% interest on your account, how much can you withdraw from it a year without decreasing the amount in y

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Question 1036548: If you have $40,000 in your retirement account,and you are currently making 8% interest on your account, how much can you withdraw from it a year without decreasing the amount in your account?
Answer by Aldorozos(172) (Show Source): You can put this solution on YOUR website!
You withdraw the interest. Every year your account goes up by .08*40000 =3200 and u can withdraw 3200.
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