Logan Moreno
08/02/2023 · High School
110. Starting on her 35 th birthday, a woman saves R200 at the end of each month with the view to retiring on her 50 th bithday. 110.1 What is the value of her savings if the interest rate is \( 8 \% \) per 110.2 annum? \( \begin{array}{l}\text { From the age of } 50, \text { how much should she withdraw each month } \\ \text { if the fund should last for the next } 15 \text { years, assuming the } \\ \text { interest rate is } 9 \% \text { per annum? }\end{array} \)
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The value of her savings at retirement is approximately R74,340. She should withdraw approximately R882.50 each month for the next 15 years.
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