Assume you plan to have $1,000,000 in your 401(K) when you retire, and you will live 20

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Assume you plan to have $1,000,000 in your 401(K) when you retire, and you will live 20 years after retirement. How much will be your monthly distribution if you can earn 14% a year (Hit: monthly compounding)?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Jun 27, 2023 06:53 AM

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Assume you plan to have $1,000,000 in your 401(K) when you retire, and you will live 20

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To calculate the monthly distribution from your 401K after retirement we need to use the future valu... View the full answer

Personal Finance Turning Money into Wealth

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