What amount will you be able to withdraw each year

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Reference no: EM131186351

You decide to open an IRS approved retirement account at your local brokerage firm. Your best estimate is that it will earn 9%. At the end of each year for the next 28 years, you will deposit $4,900 per year into the account (28 total deposits). Three years after the last deposit, you will begin making annual withdrawals. If you want to make 33 annual withdrawals, what amount will you be able to withdraw each year? Before the first withdrawal 621.38

Reference no: EM131186351

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