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6 . Suppose you accumulated $ 2 5 0 , 0 0 0 , perhaps from many years of saving. You put the money in

$6 .$ Suppose you accumulated $ $250, 000,$ perhaps from many years of saving. You put the money in a savings plan earning $3 %$ compounded monthly. If you want to live off the interest without disturbing the $ $250, 000$ balance, what amount can you withdraw at the beginning of each month?

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6 . Suppose you accumulated $ 2 5 0 , 0 0 0 , perhaps from many years of saving. You put the money in

6. Suppose you accumulated $250,000, perhaps from many years of saving. You put the money in a savings plan earning 3% compounded monthly. If you want to live off the interest without disturbing the $250,000 balance, what amount can you withdraw at the beginning of each month?

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$6 .$ Suppose you accumulated $ $250, 000,$ perhaps from many years of saving. You put the money in a savings plan earning $3 %$ compounded monthly. If you want to live off the interest without disturbing the $ $250, 000$ balance, what amount can you withdraw at the beginning of each month?