document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1175526>Question 1175526</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You have $300,000 saved for retirement. Your account earns 9% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #801411 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=801411\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Po=a(1-(1+(r/t)^(-nt)/(r/t)<BR>\n" );
document.write( "r/k=.09/12=0.0075<BR>\n" );
document.write( "Po=300000<BR>\n" );
document.write( "therefore,<BR>\n" );
document.write( "2250=a(1-(1+(r/t)^(-nt), nt=25*12=300<BR>\n" );
document.write( "1-(1.0075)^-300=0.8937, don't round until the end<BR>\n" );
document.write( "2250/.8937=a=$2517.59<BR>\n" );
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