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You have the retirement money you found in Part 3
You have a CD maturing at $35,274
you can't deposit this into your retirement account
you can earn 3% in savings (this is an estimated average)
The 30 year mortgage, you still need to pay it for 5 years into retirement (if you have enough with the CD, you could choose to pay it all off)
You and your spouse were smart and have no debt (other than any remaining mortgage if the loan term is 30 years)
You still need to pay property taxes (assume they are the same as when you first bought your house)
Your fund is based on you living another 20 years after retiring
You still have $350 a month for car and homeowner's insurance
You still have household expenses for you, your spouse and your cat
Your monthly payment from your retirement account (Hint: Use the retirement ($1,689,184.53) money from financial planning 3, letter C. Compute the payout annuity (Pmt) using the formula Immediate Annuity

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Let's break down the problem and the given formula step by step.

### Given Information:
1. **Retirement Fund Amount ($ P $):** \$1,689,184.53
2. **CD Maturing Amount:** \$35,274
3. **Savings Interest Rate ( $ r $ ):** 3% (or 0.03 annually)
4. **Years of Retirement ( $ t $ ):** 20 years
5. **Monthly Car and Homeowner's Insurance:** \$350
6. **Household Expenses:** Not specified, assuming to be part of the monthly expenses we need to find out
7. **Mortgage to Pay Off:** 5 years of mortgage payments remaining, but it's not clear how much they are. Assuming this amount can be paid off using the CD.

### Formula Interpretation:
The formula given seems to be an annuity payout formula which is used to calculate the periodic payout ($ P_o $) from the retirement fund over a certain number of years. 

The formula is:
\[ P_o = \frac{Pmt \left( 1 - \left(1 + \frac{r}{k}\right)^{-kt} \right)}{\frac{r}{k}} \]

Where:
- $ P_o $ is the periodic payout (monthly in this case).
- $ Pmt $ is the initial amount, in this case, $ P = \$1,689,184.53 $.
- $ r $ is the annual interest rate (0.03).
- $ k $ is the number of compounding periods per year (monthly, so 12).
- $ t $ is the number of years (20).

We'll calculate $ P_o $, the monthly payout from the retirement account.

### Steps to Solve:
1. Calculate the monthly payout using the annuity formula.
2. Determine if the CD amount is sufficient to pay off the remaining mortgage.
3. Include the insurance and other household expenses in the calculations to ensure the total monthly payout covers all costs.

### Calculation:

Let's compute the required values step by step.It appears that the computed monthly payout ($ P_o $) is exceedingly high (\$304,578,407.22), which indicates a miscalculation. 

Let's carefully reevaluate the formula. The correct formula for the present value of an annuity (which we can use here) is:

\[ P_o = \frac{P \cdot \frac{r}{k}}{1 - \left(1 + \frac{r}{k}\right)^{-kt}} \]

This formula calculates the periodic payment ($ P_o $) given the present value $ P $, interest rate $ r $, number of periods $ k $, and time $ t $.

I'll recalculate using this correct formula.The corrected monthly payout from the retirement account is approximately \$9,368.18.

### Summary:
1. **Monthly Payout from Retirement Fund:** \$9,368.18
2. **Monthly Car and Homeowner's Insurance:** \$350
3. **CD Maturing Amount:** \$35,274 (can be used to pay off mortgage if sufficient)

Next steps involve:
1. **Determine if the CD amount is sufficient to pay off the remaining mortgage.**
2. **Include monthly insurance and household expenses to ensure total costs are covered.**

Do you have the exact remaining mortgage amount, or any other monthly household expenses that need to be included? This will help finalize the total monthly budget calculation.

If you have any questions or need further details, please let me know!

### Relative Questions:
1. What is the exact remaining mortgage amount to be paid off?
2. What are the monthly household expenses for you and your spouse?
3. Would you prefer to pay off the mortgage using the CD?
4. Are there any additional monthly expenses not mentioned?
5. What was the initial property tax amount when you bought the house?
6. Do you expect any changes in the property taxes after retirement?
7. Are there any other sources of income post-retirement?
8. Are there any additional savings or investments apart from the retirement fund and CD?

### Tip:
Always consider potential changes in expenses and income sources during retirement to ensure a stable financial plan.

Learn how to calculate the monthly payout from a retirement fund and assess if a CD maturing amount can pay off a mortgage. Includes details on annuity calculations, interest rates, and financial planning for retirement.

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