Assume you have deposited money into a retirement account and the current account balance shows $1 million.You decide you want to retire immediately and want to withdraw equal, beginning-of-month payments from the account.  The retirement account promises to earn an annual 3.6 percent after-tax return. Over your 15 years of planned retirement.

What will be the amount you withdraw each month?

Answer rating: 100% (QA)

To calculate the amount you can withdraw each month during your 15 years of retirement we need to co... View the full answer