Given Information:
Time period = n = 30 Years
Amount = P = $459,000
Inflation rate = interest rate
Required Information:
Spending per year = ?
Answer:
She can spend $15,300 per year
Step-by-step explanation:
Lets assume that interest rate is x
Real rate = Interest rate - inflation rate
since it is given that Inflation rate = interest rate
Real rate = x - x
Real rate = 0
Therefore, the retiree can spend
$459,000/30 = $15,300 per year