Mary wants to withdarw $100,000 a year for 20 years from her IRA account. She expects to retire with $1,000,000 in her IRA account. About what interest rate must she earn on the IRA account?

Question

Question

Mary wants to withdarw $100,000 a year for 20 years from her

IRA account. She expects to retire with $1,000,000 in her IRA

account. About what interest rate must she earn on the IRA

account?

finance

Answer 1

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