Hi there again,
Earlier I posted a question on the same subject about my planning for my retirement and needed to know how much cash I need to set aside in a special account at the beginning. This special account generates up to 6% interest rate on the first $30,000, up to 5% interest rate on the next $30,000 and the rest of the deposit at 4% interest rate per annum.
My question now is how much will I get each month over a period of 22 years until the special account is fully depleted if I have let says $200,000 at the beginning in this special account.
Thank you again for your help in advance
Earlier I posted a question on the same subject about my planning for my retirement and needed to know how much cash I need to set aside in a special account at the beginning. This special account generates up to 6% interest rate on the first $30,000, up to 5% interest rate on the next $30,000 and the rest of the deposit at 4% interest rate per annum.
My question now is how much will I get each month over a period of 22 years until the special account is fully depleted if I have let says $200,000 at the beginning in this special account.
Thank you again for your help in advance