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A woman, with her employers matching program, contribute $500 at the end of each month to her retirement account, which earn 6% interest, compounded monthly.
A woman, with her employers matching program, contribute $500 at the end of each month to her retirement account, which earn 6% interest, compounded monthly. When she retires after 42 years, she plans to make monthly withdrawals for 34 years. If your account is 4% interest, compounded monthly, then when she retires, what is her maximum possible monthly withdrawal (without running out of money)?
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Fundamentals Of Healthcare Finance
Authors: Louis C. Gapenski
2nd Edition
1567934757, 978-1567934755
