You hope to retire in 35 years and plan to invest $350 per month until retiring....

You hope to retire in 35 years and plan to invest $350 per month until retiring. If you expect to earn 9% until you retire and 5% after retiring, how much will you be able to withdraw each month for 30 years during you retirement?

A. $5,527

B. $939.44

C. $2,424.29

D. $283.62

Expert Solution

Answer A $5527

The time period is to be multiplied by 12 and rate is to be divided by 12 as it is monthly investemnt as well as monthly withdrawl after retirement

Excel formula and calculation are shown below:

jeff jeffy answered 1 year ago

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