You want to retire on the day you have $2,000,000 in your savings account. You expect to
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You want to retire on the day you have $2,000,000 in your savings account. You expect to earn 4 percent, compounded monthly, on your money during your retirement. Your plan is to withdraw $5,700 a month as retirement income from this account.
How many years can you be retired until you run out of money?
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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