SOLUTION: You have $300,000 saved for retirement. Your account earns 4% Interest. How much will you be able to pull out each month,if you want to be able to take withdrawals for 25 years?

Algebra ->  Finance -> SOLUTION: You have $300,000 saved for retirement. Your account earns 4% Interest. How much will you be able to pull out each month,if you want to be able to take withdrawals for 25 years?      Log On


   

Question 1181528: You have $300,000 saved for retirement. Your account earns 4% Interest. How much will you be able to pull out each month,if you want to be able to take withdrawals for 25 years?
Answer by ikleyn(52824) About Me  (Show Source):
You can put this solution on YOUR website!
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It  DEPENDS  ON  the compounding frequency,  which you did not provide in your post.