Question: The value found in part one is 1,000,000 compounds annually and has annual withdrawals. d 1-(1+r) P = r Here, P is the starting balance

The value found in part one is 1,000,000

compounds annually and has annual withdrawals. d 1-(1+r) P = r Here, P is the starting balance of the account (that is, the size of your retirement fund), d is the regular annual withdrawal, r is the annual interest rate as a decimal, and Nis the number of years you plan to take withdrawals. 2. Suppose that you will invest your retirement fund (the value you found in part 1) for 20 years at an interest rate of 7% per year. Up to how much could you withdraw yearly in this case and still meet your goal? In other words, what is the value of d in the annuity formula in this case

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