You have just retired with savings of $2 million. If you expect to live for 42...

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You have just retired with savings of $2 million. If you expect to live for 42 years and to earn 6% a year on your savings, how much can you afford to spend each year (in $ dollars)? $ (Assume that you spend the money at the start of each year.) You have just retired with savings of $2 million. If you expect to live for 42 years and to earn 6% a year on your savings, how much can you afford to spend each year (in $ dollars)? $ (Assume that you spend the money at the start of each year.)

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