Question: need help on how to get to the correct answer Sally has saved $2,000,000 for retirement. Starting next year, she will begin drawing from her

need help on how to get to the correct answer

Sally has saved $2,000,000 for retirement. Starting next year, she will begin drawing from her retirement account. Sally believes she can earn a return of 5.6% during retirement. She would also like to increase her withdrawals by 1.9% per year to account for inflation. If Sally wants her retirement account to last forever, how much can she withdraw one year from now? Selected Answer: 1,027,027.03 Correct Answer: 74,000.001

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