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Fast forward to the date of your retirement when you have accumulated $4,000,000 in your personal retirement plan. You conservatively estimate that you will live
Fast forward to the date of your retirement when you have accumulated $4,000,000 in your personal retirement plan. You conservatively estimate that you will live another forty-three years and would like to leave $1,400,000 to your favorite charity at that time. What is the maximum monthly amount that you could withdraw from the plan and leave the desired amount to the charity if your plan is expected to earn an APR of 7.5 percent, compounded monthly? (Ignore income tax considerations)
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