Question
2. We will use the age of 41 years and 3 months for this problem. Assume that when you get to 67 (retirement age) you
2. We will use the age of 41 years and 3 months for this problem. Assume that when you get to 67 (retirement age) you switch your funds from stock market investment to bond market investment. Assume you can earn 7.5% on your bond investment. You decide to withdraw a constant amount each year for the next 20 years when you get to the retirement age of 67. How much will be your annual withdrawal over the next 20 years, from age 68 to 87 (Nothing left at 87) if you invest all of your accumulated stock investment into a bond investment at your retirement age of 67?
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