You plans to withdraw $150,000 at the end of every year from this accout.To prevent overwithdrawal at the end, you put a safety cushion of 3. If balance of the retirement fund at the end of year, before annual withdrawal is less than 3 times the planned annual withdrawal amount, you withdraw one-third of the remaining balance. (Hint: use IF function) How would you set up the CountIF in excel
You plans to withdraw $150,000 at the end of every year from this accout.To prevent overwithdrawal at the end, you put a safety cushion of 3. If balance of the retirement fund at the end of year, before annual withdrawal is less than 3 times the planned annual withdrawal amount, you withdraw one-third of the remaining balance. (Hint: use IF function) How would you set up the CountIF in excel
Chapter5: The Time Value Of Money
Section5.A: Continous Compounding And Discounting
Problem 3P
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You plans to withdraw $150,000 at the end of every year from this accout.To prevent overwithdrawal at the end, you put a safety cushion of 3. If balance of the retirement fund at the end of year, before annual withdrawal is less than 3 times the planned annual withdrawal amount, you withdraw one-third of the remaining balance. (Hint: use IF function)
How would you set up the CountIF in excel?
Transcribed Image Text:Year
1
Balance
beginning of Invested in risky Invested in bonds
year
$ 1,000,000.00 $ 554,295.73 $
318,000.00
Ret. on risky fund
-21%
Balance end
of year bf
withdrawal
withdrawal
$ 150,000.00
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