You are planning your retirement in 15 years. you plan to retire with $3,000,000 and your retirement account earns 4.8% compounded monthly. after you retire, you plan on withdrawing $15,000 per month from your account until you have nothing left. how many years can you live off your retirement account after you retire?

The retirement fund will last for 33 years and 7 months

Explanation:

We need to solve for time in an ordinary annuity

C  $15,000.00

rate0.004 (4.8% divide by 12 month)

PV$3,000,000

timen

we clear for n as much as we can and solve

now we use logarithmic properties to solve for n:

-403.16  

this will be a value in months so we divide by 12 to get it annually

403/12 = 33,5833

we convert the residual to months:

0.5833 x 12 = 6.996 = 7 months

lady gaga

explanation:

lady gaga's real name is stefani joanne angelina germanotta.

answer; microeconomics;