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You have reached retirement age and the balance in your retirement account is$2,500,000.To be safe, you reinvest this money into an account which pays a
You have reached retirement age and the balance in your retirement account is$2,500,000.To be safe, you reinvest this money into an account which pays a fixed return of 4% per year. Now you want to consider how you could preserve your retirement savings to pass along as an inheritance to your children
How much could you withdraw annually so that your retirement savings would lastforever?
Round your answer to the nearest dollar,but do not round the value of the interest rate per compounding period to make your calculation.
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