If Mrs. Smith deposits the $420,000 at an APR of 8% per year (8% APR = 8%
Fantastic news! We've Found the answer you've been seeking!
Question:
If Mrs. Smith deposits the $420,000 at an APR of 8% per year (8% APR = 8% / 12 per month) and receives $3,300 per month, what age will she be when her funds run out?
If 65-year-old Mrs. Smith plans to live to age 93, at what monthly interest rate must she deposit the $420,000 to be able to receive $3,300 per month with no balance left in the account at her death?
Related Book For
Posted Date: