document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198148>Question 1198148</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #837722 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52778)</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=837722\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, <BR>\n" );
document.write( "if you want to be able to take withdrawals for 15 years?<BR>\n" );
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document.write( "The calculation formula in the post by &nbsp;@mananth\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PMT = (300,000 *0.006666667) / ((1 - (1 + 0.006666667)))^(-180) \r<BR>\n" );
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document.write( "is &nbsp;<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%28highlight%28INCORRECT%29%29 ALIGN=MIDDLE  ALT=\"highlight%28highlight%28INCORRECT%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "His reported value/answer of &nbsp;@2,786.53 &nbsp;is &nbsp;<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%28highlight%28INCORRECT%29%29 ALIGN=MIDDLE  ALT=\"highlight%28highlight%28INCORRECT%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >, &nbsp;too.\r<BR>\n" );
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document.write( "The correct formula is \r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PMT = (300000*0.006666667)/(1 - (1 + 0.006666667)^(-180))\r<BR>\n" );
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document.write( "The correct &nbsp;&nbsp;<U>ANSWER</U> &nbsp;&nbsp;is &nbsp;$2866.96.<BR>\n" );
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document.write( "Ignore the post by @mananth, &nbsp;for the safety of your mind.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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