You have accumulated $1872270 for your retirement

jagguarpaw February 6, 2017 0 Comments

Question: You have accumulated $1,872,270 for your retirement…

You have accumulated $1,872,270 for your retirement. How much money can you withdraw for the next 16 years in equal annual end-of the next 16 years in equal annual end-of-the-year cash flow if you invest the money at a rate of 17.85 percent per year, compound annually? Round the answer to two decimal places.