Suppose you inherited $630,000 and invested it at 8.25% per year. How
QUESTION
Suppose you inherited $630,000 and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? (Points : 10)$49,023.94$65,365.26$81,052.92$79,745.61$81,706.57
I did this with Excel. If you withdraw $65,365.25 at the end of each year, you could live off the money for 20 years and still have 25 cents. The trick is finding that nice steady return. 630000 681975 65365.25 0.256401801 616609.75 667480.0544 602114.8044 651789.2757 586424.0257 634804.0079 569438.7579 616417.4554 551052.2054 596514.0123 531148.7623 574968.5352 509603.2852 551645.5562 486280.3062 526398.4315
3.1815 499068.419 433703.169 469483.6804 404118.4304 437458.2009 372092.9509 402790.6194 337425.3694 365262.9624 299897.7124 324639.2736 259274.0236 280664.1306 215298.8806 233061.0382 167695.7882 181530.6908 116165.4408 125749.0896 60383.83963 65365.5064 0.256401801 0.277554949
ANSWER:
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.