SOLUTION: You have $300,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?

Algebra ->  Finance -> SOLUTION: You have $300,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?      Log On


   

Question 1197626: You have $300,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?
Answer by ikleyn(52775) About Me  (Show Source):
You can put this solution on YOUR website!
.

The compounding period MUST be given,

but it is not defined in the post.