Problem $18-11$ Dipping into Your Nest Egg $[$LO$18-6]$

You have $$15,000$ in your retirement fund that is earning $5\mathrm{.}5$ percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in $20$ years? $($Use Exhibit $18-16.)$Problem $18-11$ Dipping into Your Nest Egg $[$LO$18-6]$

You have $$15,000$ in your retirement fund that is earning $5\mathrm{.}5$ percent per year, compounded quarterly. How many dollars in

withdrawals per month would reduce this nest egg to zero in $20$ years? $($Use Exhibit $18-16.)$

Withdrawal rate