a. You will need $1,072,945.20 in your account at the beginning.
b. You will pull out a total of $1,200,000 from the account.
c. The interest earned will be $127,054.80.
How much money will I need to have at retirement so I can withdraw $60,000 a year
for 20 years from an account earning 8% compounded annually?
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?
1 answer
1 answer