Homework answers / question archive / Tom is 39 today

Tom is 39 today

Finance

Share With

Tom is 39 today. He will make a deposit of $12,000 into a retirement account on each of his birthdays (beginning today) until he turns 65. The account earns 6%. He will be able to withdraw $_____ per year starting on his 66^th birthday and ending on his 85^th birthday at which time no money will be left in his account.