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How much can pull out at the end every year

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Problem 1: If Julie has $500,000 (Half million) in her retirement account. If she invests in a conservative investment that will provide a return of 3.5 % a year, and if she wants her money to last 30 years, how much can she pull out at the end every year for next 30 years 3.

Withdrawal amount Portfolio balance (PV)-500000 expected return : r3.50% period years30

Withdrawal annual amount (PMT)$27,185.67

Reference no: EM132982484

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