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8. You have $100,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would

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8. You have $100,000 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.) (LO 14.2) Students will find that at a withdrawal rate of $680 a month, the nest egg of $100,000 will be reduced to zero in 20 years. But at 5.5 percent interest, compounded quarterly, one can take $460 a month indefinitely and still leave the $100,000 nest egg intact

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