What is her maximum possible monthly withdrawal

Reference no: EM13177612

a woman, with her employer's matching program, contributes $600 at the end of each month to her retirement account, which earns 5% interest, compounded monthly. when she retires after 45 years, she plans to make monthly withdrawals for 30 years. if her account earns 4% interest, compounded monthly, then when she retires, what is her maximum possible monthly withdrawal (without running out of money)?

Reference no: EM13177612

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