1. On the day you retire, you will have $389,900 in your
retirement savings. You expect to earn 4.5 percent, compounded
monthly, and live 24 more years. How much can you withdraw from
your savings each month during your retirement?
A. $754.16
B. $751.35
C. $2,208.01
D. $2,072.00
E. $2,216.28
2.
You are retired, have $264,500 in your savings, withdraw $2,000
each month, and earn 4.5 percent, compounded
monthly. How long will it be until you run out of
money?...