What nominal rate of interest from a fund

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Annabelle is retiring this year and has a  $400,000 retirement fund that she has accumulated.

a What nominal rate of interest from a fund that compounds monthly would Anabelle need if she withdraws $2,000 at the end of each month for 20 years? Assume that all funds would be depleted at the end of the 20 years.

b What nominal rate of interest from a fund that compounds monthly would Anabelle need if she withdraws $2,000 at the end of each month for 20 years,  spends $10,000 on a European vacations immediately after retiring, and has $25,000 in the account at the end of 20 years for emergency purposes.

Reference no: EM132445027

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