SOLUTION: You have $300,000 saved for retirement. Your account earns 7% 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 7% 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 1209859: You have $300,000 saved for retirement. Your account earns 7% 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 CPhill(1959) About Me  (Show Source):
You can put this solution on YOUR website!
You will be able to withdraw approximately $2,696.48 each month for 15 years.