Question 1154627: You have $420,000 saved for retirement. If your account continues to earn 3.6% interest, how much will you be able to withdraw each month if you want to take out monthly withdrawals for the next 40 years? Round to the nearest whole dollar.
Using your calculated withdrawal amount, how much money total would you have withdrawn over that 40-year period? Round to the nearest whole dollar.
How much would be from interest? Round to the nearest whole dollar.
Answer by ikleyn(52878)   (Show Source):
You can put this solution on YOUR website! .
As it is worded, printed, submitted and presented, this problem and the post are not perfect (are not precisely correct).
To be perfect and to be correct, the problem must say what is the compounding period.
Without it, the given problem CAN NOT BE SOLVED adequately ans accurately.
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