Question: For Problems 9 - 1 4 , pretend you receive an inheritance of $ 6 5 0 , 0 0 0 and deposit it in
For Problems pretend you receive an inheritance of $ and deposit it in a savings plan that earns compounded monthly.
If you want to live off the interest without withdrawing any of the $ principal, what amount can you withdraw at the end of each month?
How much can you withdraw at the end of each month if you want the plan to last years?
How much can you withdraw at the end of each month if you want the plan to last years?
If you withdraw $ at the end of each month, how long will the plan last?
If you withdraw less than the amount you calculated in Problem what will happen to the plan balance?
If you withdraw $ at the end of each month, what will the balance be in years?
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