Question: You are planning for a successful retirement. Based on the lifestyle that you would like in retirement, you need a monthly distribution of $18,000. If

You are planning for a successful retirement. Based on the lifestyle that you would like in retirement, you need a monthly distribution of $18,000.

If you estimate that you will earn 10.8% compounded monthly and want your retirement distribution to last for 20 years:

What is the amount the Payout Annuity must start with? ___________

How much interest is earned during the distribution period? _________

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