Try another version of this question Get help: Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 3: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
You want to be able to withdraw $50,000 each year for 30 years. Your account earns 4% interest.
a) How much do you need in your account at the beginning?
$
b) How much total money will you pull out of the account?
$
c) How much of that money is interest?
$
Enter DNE for Does Not Exist, oo for Infinity 864,601.67
Enter DNE for Does Not Exist, oo for Infinity 1,500,000
Enter DNE for Does Not Exist, oo for Infinity 635,398.33