Question content area top

Part $1$

You are $31$ years$$ old, and decide to save $ $12$ comma $500$ each year$($with the first deposit one year from$$ now$),$ in an account paying $10\%$ interest per year. You will make your last deposit $34$ years from now when you retire at age $65.$ During$$ retirement, you plan to withdraw funds from the account at the end of each year$($so your first withdrawal is at age$66).$ What constant amount will you be able to withdraw each year if you want the funds to last until you are age $95?$

Question content area bottom

Part $1$

The total savings at age $65$ is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$