Question 1198148
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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?
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The calculation formula in the post by  @mananth


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


is  {{{highlight(highlight(INCORRECT))}}}.


His reported value/answer of  @2,786.53  is  {{{highlight(highlight(INCORRECT))}}},  too.



The correct formula is 


        PMT = (300000*0.006666667)/(1 - (1 + 0.006666667)^(-180))


The correct &nbsp;&nbsp;<U>ANSWER</U> &nbsp;&nbsp;is &nbsp;$2866.96.
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Ignore the post by @mananth, &nbsp;for the safety of your mind.