It is assumed that, 10.5 years from now.
present value of future withdrawals as on 10.5 years
=3,000×(0.5%1−(1+0.5%)−114))
=3,000×86.73416=$260,202.5
monthly payment
=(0.5%((1+0.5%)126−1)260202.5−(150,000×(1+0.5%)66−(10,000×(1+0.5%)126))
=174.933132,982.12
=$188.5413 or
=$188.54
Therefore, the monthly payment is $188.54
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