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# A retiree plans to use up a superannuation fund that

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Senior Manager
Joined: 08 Feb 2007
Posts: 407
A retiree plans to use up a superannuation fund that [#permalink]

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13 Nov 2008, 06:19
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.

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13 Nov 2008, 08:38
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.

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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Re: Annuity Spending/Interest question   [#permalink] 13 Nov 2008, 08:38
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# A retiree plans to use up a superannuation fund that

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