Nadine is retiring at age 62 and expects to live to age 85. On the day she retires, she has $1,650,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings each month if she plans on giving $300,000 to her grandson on the morning of her death?

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A: Calculate the monthly payments as follows:MS-Excel --> Formulas --> Financials -->PMT

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A:

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A: Computation:

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