Withdrawal Amount. Over the years, Ahmed and Aamina El- zayaty, of Berkeley, California, have accumulated $200,000 and $220,000, respectively, in their employer-sponsored retirement plans. If the amounts in their two accounts earn a 6 percent rate of return over Ahmed and Aamina’s anticipated 20 years of retirement, how large of an amount could be withdrawn from Ahmed's account each month?

Answer rating: 100% (QA)

Ahmed collection 200000 interest rates 6 monthly interest 05 Period 20 ye... View the full answer