Question 1198148
You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?


{{{PMT = PV * (r / (1 - (1 + r)^(-n)))}}}

Where:
PMT = Payment per period
PV = Present value 
r = Interest rate per period
n = Total number of periods

Here 
PV = $300,000
r = 8%  / 12 = 0.006666667 per month
n = 15 years x 12 = 180 months

PMT = (300,000 *0.006666667) / ((1 - (1 + 0.006666667)))^(-180) = $2,786.53

$2,786.53 per month  can be withdrawn  for 15 years