You have $50,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How

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You have $50,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? How many dollars per month can you withdraw for as long as you live and still leave this nest egg intact? ( Hint: Use Exhibit 14–5 .) (Obj. 2)

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Focus On Personal Finance

ISBN: 9780073382425

3rd Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

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