document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1136358>Question 1136358</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You want to be able to withdraw $45,000 each year for 20 years. Your account earns 6% interest compounded monthly.\r<BR>\n" );
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document.write( "a) How much do you need in your account at the beginning?\r<BR>\n" );
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document.write( "b) How much total money will you pull out of the account?\r<BR>\n" );
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document.write( "c) How much of that money is interest </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #754122 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52933)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=754122\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "In such school/(college ?) Math problems, if you withdraw the fixed amount yearly, then the account is assumed to be compounded yearly.\r<BR>\n" );
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document.write( "If the account is compounded monthly, then it is assumed that the fixed sum  withdraws monthly.\r<BR>\n" );
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document.write( "But this mix \"withdrawing yearly and compounding monthly\" does not work.\r<BR>\n" );
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document.write( "It may work if the two periods - withdrawing and  compounding are the same.\r<BR>\n" );
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document.write( "If not, then the problem requires additional clarifications.\r<BR>\n" );
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document.write( "--------------------\r<BR>\n" );
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document.write( "If you want to see relevant theory and solved problems, look into my lessons in this site associated with annuity saving plans and retirement plans \r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Ordinary-Annuity-saving-plans-and-geometric-progressions.lesson>Ordinary Annuity saving plans and geometric progressions</A>\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Annuity-due-saving-plans-and-geometric-progressions.lesson>Annuity Due saving plans and geometric progressions</A>\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Solved-problem-on-Ordinary-Annuity-saving-plans.lesson>Solved problems on Ordinary Annuity saving plans</A> \r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Withdrawing-a-certain-amount-of-money-periodically-from-a-compounded-saving-account.lesson>Withdrawing a certain amount of money periodically from a compounded saving account</A> (*)\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Solved-problems-on-Annuity-saving-plans.lesson>Miscellaneous problems on retirement plans</A> \r<BR>\n" );
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document.write( "and especially lesson marked (*) in the list as the most relevant to the given problem.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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