Question
You have a retirement account with a balance of $1,500,000. You intend to make withdrawals each year for the next 25 years from this account.
You have a retirement account with a balance of $1,500,000. You intend to make withdrawals each year for the next 25 years from this account. If the investment account earns 6%, compounded annually, how much can you withdraw at the end of each year?
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Financial Literacy For Managers
Authors: Richard A. Lambert
1st Edition
1613630182, 978-1613630181
