Business
Business, 01.02.2021 21:20, jalenshayewilliams

You decide to open an IRS approved retirement account at your local brokerage firm. Your best estimate is that it will earn 11%. At the end of each year for the next 26 years, you will deposit $4,600 per year into the account (26 total deposits). Three years after the last deposit, you will begin making annual withdrawals. Required:
a. How much money is in the account 1 year before the first withdrawal?
b. If you want to make 30 annual withdrawals, what amount will you be able to withdraw each year?
c. If you want the account to last forever, what amount will you be able to withdraw each year?

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Answers: 3

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