Question
A woman, with her employer's matching program, contributes $300 at the end of each month to her retirement account, which earns 5% interest, compounded monthly.
A woman, with her employer's matching program, contributes $300 at the end of each month to her retirement account, which earns 5% interest, compounded monthly. When she retires after 44 years, she plans to make monthly withdrawals for 33 years. If her account earns 4% interest, compounded monthly, then when she retires, what is her maximum possible monthly withdrawal (without running out of money)?
The maximum possible monthly withdrawal is approximately
$enter your response here
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Precalculus Concepts Through Functions, A Unit Circle Approach To Trigonometry
Authors: Michael Sullivan, Michael Sullivan III
3rd Edition
0321925866, 9780321925862
