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What will be yearly withdrawal

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A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 20.00 years and pool the money into a savings account that pays 3.00% APR. They plan on living for 25.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal?

Account

Balance

Yearly Contribution

APR

Fidelity Mutual Fund

$22,321.00

$1,000.00

6.00%

Vanguard Mutual Fund

$182,970.00

$10,000.00

8.00%

Employer 401k

$304,447.00

$15,000.00

5.00%

Reference no: EM133120183

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