Question: 1. You have selected an account that yields 3.85% compounded monthly to invest the $4,051,948 that you have saved while you worked. How much can

1. You have selected an account that yields 3.85% compounded monthly

1. You have selected an account that yields 3.85% compounded monthly to invest the $4,051,948 that you have saved while you worked. How much can you withdrawal monthly from the account if you plan on living forever? Calculate the Nominal Interest Rate, the Interest Rate per Compounding period, the Effective Annual Interest Rate and the amount would you receive each year forever

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