Question

You know you will have $100,000 in your account when you retire. You want to be able to take monthly withdrawals from the account for a total of 25 years. Your retirement account earns 5% interest. How much will you he able to withdrawal each month?

Answer 1

Assuming a 5% annual interest rate, you will be able to withdrawal $541.67 each month from your retirement account for a total of 25 yearssss