Question
You plan on retiring in 10 years with exactly $1,500,000 in your retirement account. This account will earn 6% compounded monthly. You will withdraw $10,000
You plan on retiring in 10 years with exactly $1,500,000 in your retirement account. This account will earn 6% compounded monthly. You will withdraw $10,000 each month after you retire to cover your living expenses. How many years can you live off your retirement account?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
