Question
You have $401492 in a your 401(k) retirement account earning 5.6 percent per year. You are retiring now and have a life expectancy of 8
You have $401492 in a your 401(k) retirement account earning 5.6 percent per year. You are retiring now and have a life expectancy of 8 years. You plan to make equal yearly withdrawals from your account and completely deplete it because "you can't take it with you." How much are your withdrawals? Answer to the nearest cent, please and thank you.
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Get StartedRecommended Textbook for
Fundamentals of Investments Valuation and Management
Authors: Bradford D. Jordan, Thomas W. Miller
5th edition
978-007728329, 9780073382357, 0077283295, 73382353, 978-0077283292
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