document.write( "Question 1175526: 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?
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Algebra.Com's Answer #801423 by ikleyn(52776)![]() ![]() You can put this solution on YOUR website! .\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " Let me disclose you a piece of info which can shock you.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "9% is very high annual percentage, and having $300,000 saved for retirement on your account, \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "it earns 0.09*300000 = 27,000 dollars annually.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "So, you can take $27,000 from your account (after it is compounded) without decreasing this basic amount of $300,000.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " AGAIN: under given condition, you can have $27000 once per year \r \n" ); document.write( "\n" ); document.write( " EVERY YEAR without diminishing you base account (!), practically FOREVER (!) (!)\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Isn't it a shocking info ?\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Consider this info as an entertainment. I posted it to you to make you smiling . . . \r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |