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You deposited $5,792.95 in the bank 20 years ago. You deposited another $12,000 in the account 2 years ago. Exactly 15 years from today, you
You deposited $5,792.95 in the bank 20 years ago. You deposited another $12,000 in the account 2 years ago. Exactly 15 years from today, you want to start withdrawing the same amount annually for 25 years of withdrawals. Assuming a 7% discount rate, what is the amount of that annual withdrawal. Round to the nearest dollar and use the correct symbol. Should be a nice round number.
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