Question

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

Answer 1

Answer:

$680

Explanation:

The computation of the dollars in withdrawals per month that decrease this nest egg to zero in 20 years is shown below;

As we can see in the attached image that the $100,000 would be in the retirement fund so in 20 years, the withdrawals per month is $680 that decrease the nest egg to zero

Therefore the same would be considered