Question
Assume you are age 78. You plan on living to age 100. If you have $712,000 on which you can earn an APR of 6.25%,
Assume you are age 78. You plan on living to age 100. If you have $712,000 on which you can earn an APR of 6.25%, how much can you take out per month in order to completely exhaust your savings in 22 years assuming monthly compounding?
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Entrepreneurial Finance
Authors: Simon Hulme, Chris Drew
1st Edition
1352009811, 978-1352009811
