You have $100,000 in your retirement fund that is earning 5.5 percent per year, compounded...
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Finance
You have $100,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly.
a. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? Use Exhibit 14-7.
b. How many dollars per month can you withdraw for as long as you live and still leave this nest egg intact? Use Exhibit 14-7.
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