SOLUTION: If you have $500,000 in your retirement account and you are currently making 5% interest on your account, how much can you withdraw from it a year without decreasing the amount in

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Question 1048437: If you have $500,000 in your retirement account and you are currently making 5% interest on your account, how much can you withdraw from it a year without decreasing the amount in your account?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Simple Interest
I = P*r*t
One year
.05*$500,000 = $25,000