Respuesta :
Explanation
In this question, we have the following information;
r = 0.022% annual rate
k = 12since we’re withdrawing monthly
N = 1515 years
P = $400,000 we are beginning with $400,000
d= regular withdrawal
We would be using the formula for Payout annuity below;
[tex]P=\frac{d\lparen1-\left(1+\frac{r}{k}\right?^{-Nk}\text{\rparen}}{\frac{r}{k}}[/tex]Therefore, we have that;
[tex]\begin{gathered} 400000=\frac{d\lparen1-\left(1+\frac{0.02}{12}\right?^{-15\times12}\rparen}{\frac{0.02}{12}} \\ d\lparen1-\left(1+\frac{0.02}{12}\right?^{-15\times12}\rparen=400000\times\frac{0.02}{12} \\ d=\frac{400000\times\frac{0.02}{12}}{\lparen1-\left(1+\frac{0.02}{12}\right?^{-15\times12}\rparen} \\ d=2574 \end{gathered}[/tex]Answer:$2574
[tex]2574[/tex]