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adcxaway
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A retiree plans to use up a superannuation fund that 13 Nov 2008, 06:19
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A retiree plans to use up a superannuation fund that includes 600k within 20 years. how much can the retiree withdraw from the fund at the end of each year if the tax freee int rate is 6% per year.

I'm very interested in the method used to calculate.. please advise..



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A retiree plans to use up a superannuation fund that 13 Nov 2008, 08:38
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adcxaway
A retiree plans to use up a superannuation fund that includes 600k within 20 years. how much can the retiree withdraw from the fund at the end of each year if the tax freee int rate is 6% per year.

I'm very interested in the method used to calculate.. please advise..
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600k = x (pvifa@6% for 20 years)
x = 600k/11.46992122
x = 52310.73419

however, this is not a gmat-type question. Are you looking for a solution for any coursework in finance/accounting?. If so, then its a wrong place to do so.



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Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
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Thank you for understanding, and happy exploring!