Suppose you plan to retire at age 70, and you want to be able to withdraw an

Question:

Suppose you plan to retire at age 70, and you want to be able to withdraw an amount of $62,000 per year on each birthday from age 70 to age 100 (a total of 31 withdrawals). If the account which contains your savings earns 5.7% per year simple interest, how much money needs to be in the account by the time you reach your 70th birthday?