Hello

Im a little confused with this one, do I use 3.7% for rate or the 10%? explain please.. thank you so much

2. Liz is required to take out approximately 3.7% of the balance in the IRA in the first year and the percent increases each year. The IRA will essentially be all used by age 100. She may take out more than the minimum each year if she chooses. If Liz expects the IRA to earn 10% each year, will her IRA balance grow in the first 4 months years if she takes out an amount equal to the annuity payment? Calculate the earnings on an annual basis and use the total of 12 months of the annuity for the amount she will take out