A retiree saved a total of $1,500,000 in a pension fund that will earn them a 3.5% ROI. How much can this person draw at the end of each year as a pension if the fund is drawn down (to zero) in 30 years?

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3. Someone invests $5,000 into an account earning 6% return on investment. The money compounds yearly for four years and is paid out. How much is the payout? 3) Single payment compound amount. Data (problem type stated) (column heading "data" and "comment" (money formatted with currency) (brief comments explain data) (interest rates formatted %) (solution last line) Comment (5,000) amount invested 4 years invested 6.0% ROI $6,312.38 Payout