Calculator Problem – 08/11/2014

If you put $8,000,000 in the bank earning 1%,, how long can you spend $45,000 a month?

(The answer will be posted with the new calculator problem in 2 weeks. Or if you can’t wait that long, you can go to https://www.facebook.com/garyjohnstonseminars for the answer.)

Answer for 07/28/2014 problem:
(N=360,I=5,PV=135,000,FV=0)  PMT=$724.71