Posted by **colin** on Wednesday, July 18, 2012 at 1:25am.

How much money will I need to have at retirement so I can withdraw $60,000 a year

for 20 years from an account earning 8% compounded annually?

a. How much do you need in your account at the beginning

b. How much total money will you pull out of the account?

c. How much of that money is interest?

## Answer This Question

## Related Questions

- Finance - You want to be able to withdraw $25,000 from your account each year ...
- maths - You deposit $1000 each year into an account earning 8% compounded ...
- magh - suppose you put money into teo different bank accounts. In account #1 you...
- math - How much money would need to be deposited into an account earning 5.75% ...
- finance - Mrs. Kay who is 24 years old plans to retire at the age of 60. Mrs. ...
- math - 3. (TCO A) The following questions are worth 5 points each. Please show ...
- finance - Starting a year from now and making 10 yearly payments, Pierre would ...
- finance - How much would Greg need to have on deposit at retirement in order to ...
- finance - You wish to retire in 12 years and currently have $50,000 in a savings...
- Finance - You wish to retire in 12 years and currently have $50,000 in a savings...

More Related Questions