Bill turned 30 today, and he is planning to save $3,600 per year for retirement, with the first deposit to be made 1 year from today. He will invest in a mutual fund that will provide a return of 5% per year. He plans to retire 35 years from today, when he turns 65, and he expects to live for 30 years after retirement, to age 95. Under these assumptions, how much can he spend in each year after he retires? Her first withdrawal will be made at the end of her first retirement year. $19,858 $15,559 $17,288 $21,152

Answers:

$19,858

$15,559

$17,288

$21,152