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Your aunt is 70 years old and she has $2,537,647 saved for her retirement. She expects to live for another 30 years and she receives
Your aunt is 70 years old and she has $2,537,647 saved for her retirement. She expects to live for another 30 years and she receives a 8% rate (APR) from Retirement-Bank. How much should she withdraw at the end of each of the next 30 years, so that she ends up with zero in the account (she uses all of her savings by the end of those 30 years)?
Round answer to the nearest three decimals.
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