You retire at age 66 and expect to live another 25 years.On the day you retire,you have $128,500 saved.You expect to earn 4.5 percent,compounded monthly.How much can you withdraw from your savings each month if you plan to die on the day you spend your last penny?

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$128,500 = C{1 - 1 / [1 + (0.045 / 12)]^25×12} / (0.045 / 12) C = $714.24 11ea5bb7_de38_8462_8724_27765c49ce72_TB1005_00

You Retire at Age 66 and Expect to Live Another