you are 35 years old, and you decide to save$5000 each tear( with first deposit one year from now), in an account paying 8% interest per year.

you are 35 years old, and you decide to save$5000 each tear( with first deposit one year from now), in an account paying 8% interest per year. you will make your last deposit 30 years from now when you retire at the age 65.During retirement,you plan to withdraw funds from the account at the end of each year(so your first withdrawal is at age of 66) What constant amount will you be able to withdraw each year if you want the fund to last until you are 90

Annual depositsNumber of depositsInterest rateValue on the date of retirementNumber of withdrawlsAnnual withdrawls $5,000308%$566,41625$7,748