Question 1203862
monthly compounding is assumed.
calculator used is at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>
results are shown below:
<img src = "http://theo.x10hosting.com/2023/092401.jpg">
present value is set to -400,000.
interest rate per time period = 8% per year / 12 = .66666666....% per month.
number of time periods = 15 years * 12 = 180 months.
payments are withdrawn at the end of each month.
investment is assumed to be made 1 month prior to when the first withdrawal is desired.
calculator says that 3,822.61 is able to be withdrawn at the end of each month.