7. Disability Before Retirement. Jackie Facet of Auburn, Alabama, age 60, was planning on retirement...
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7. Disability Before Retirement. Jackie Facet of Auburn, Alabama, age 60, was planning on retirement and investing well for it because he now has $400,000 in his retirement accounts and would likely to have doubled that by age 67. But, he became permanently disabled after getting into a vehicle accident a few months ago.
(c) How much might Jackie earn each year on his $400,000 portfolio if it earns 4 percent?
N
1
I/Y
4
PV
-400,000
PMT
0
FV
CPT
(d) How large an amount could be withdrawn from his account each month starting at age 60 over 25 years of retirement?
N
25
I/Y
4
PV
400,000
PMT
CPT
FV
0
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