A woman with her employer s matching program contributes 300

Last updated: 11/16/2023

A woman with her employer s matching program contributes 300 at the end of each month to her retirement account which earns 7 interest compounded monthly When she retires after 4 years she plans to make monthly withdrawals for 26 years If her account earns 5 interest compounded monthly then when she retires what is her maximum possible monthly withdrawal without running out of money The maximum possible monthly withdrawal is approximately Simplify your answer Round to the nearest cent as needed