Question

How much would greg need to have on deposit at retirement in order to withdraw $ 35,000 annually over the 15 years if the retirement fund earns 4 percent?

Answer 1

This is the equivalent problem as an amortization problem.
Given:
Annual payout, A = 35000
Interest, i = 4% per annum
number of periods, n = 15

Need present value.
$P=\frac{A*((1+i)^n-1)}{i*(1+i)^n}$
$P=\frac{35000*((1+.04)^{15}-1)}{.04*(1+.04)^{15}}$
=389143.56     to the nearest cent.