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Suppose you inherited $275,000 and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years?


$28,532


$29,959


$31,457


$33,030


$34,681

Respuesta :

Answer:

$28,532

Explanation:

In this question, we use the PMT formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Future value = $0

Rate of interest = 8.25%

NPER = 20 years

Future value = $0

The formula is shown below:

= PMT(Rate,NPER,-PV;FV;type)

So, after solving this, the answer would be $28,532.45

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