Withdraw in equal amounts at the beginning

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Reference no: EM131820721

1. Suppose you inherited $1,000,000 and invested it at 6% per year. How much could you withdraw in equal amounts at the beginning of each of the next 20 years?

a) $87,543.38 b) $57,574.71 c) $99,230.40 d) $82,249.58 e) $97,562.66

2. Assume that you have a 401(k) that has a dollar for dollar employer match up to $3000 per year and that you contribute $2000 per year of your salary for 45 years. Assume you can earn 6% on your investments, how much will you have accumulated?

a) $885,185 b) $1,036,226 c) $850,974 d) $1,770,370

Reference no: EM131820721

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