Homework Answers
Present Value = $125,000
Annual Interest Rate = 6.20%
Quarterly Interest Rate = 1.55%
Period = 10 years or 40 quarters
Let quarterly withdrawals be $x
$125,000 = $x/1.0155 + $x/1.0155^2 + …. + $x/1.0155^39 +
$x/1.0155^40
$125,000 = $x * (1 - (1/1.0155)^40) / 0.0155
$125,000 = $x * 29.644584
$x = $4,216.62
Quarterly Withdrawals = $4,216.62
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