About the retirement fund

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Reference no: EM131013321

Your aunt and uncle have asked your help in setting up their estate plan. They currently have $3,000,000 in their retirement fund. They wish to know the maximum amount that they can withdraw each month over a twenty-five year period and still have $800,000 left for their only child (your cousin). They figure that this fund can conservatively earn an APR of 5.4 percent, compounded monthly.

Reference no: EM131013321

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