You plan on retiring in 10 years and currently have $200,000 saved in a retirement account. You plan on needing $60,000 per year at the beginning of each year and for planning purposes will plan for 20 years of payments past retirements. The interest rate on funds in the retirement account prior to retirement will earn on average 8%. The interest rate on funds post retirement will be expected to be less at 6%.

How much will need to be added into the account today and at the beginning of each of the 9 years (10 years in total) to fully fund the retirement?

How much more would need if the interest rate in retirement was reduced to 4% rather than 6%