You just retired with $179,500 in your retirement account. How much will you be able to withdraw at the beginning of each month if you want your payments to last for 23 years? Assume that your account will earn j12=6.00% and that you will use up all of your funds. Express your answer to 2 decimal places but don't include the $ sign. Your Answer:
You just retired with $179,500 in your retirement account. How much will you be able to withdraw at the beginning of each month if you want your payments to last for 23 years? Assume that your account will earn j12=6.00% and that you will use up all of your funds. Express your answer to 2 decimal places but don't include the $ sign. Your Answer:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:You just retired with $179,500 in your retirement account. How much will you be
able to withdraw at the beginning of each month if you want your payments to last
for 23 years? Assume that your account will earn j12-6.00% and that you will use up
all of your funds.
Express your answer to 2 decimal places but don't include the $ sign.
Your Answer:
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