please solve this problem as if you were doing it in the tvm solver on a ti-84 calculator adn did not have to show your work: You plan to retire in 4 years with $340,596. You plan to withdraw $54,900 per year for 16 years. The expected return is X percent per year and the first regular withdrawal is expected in 5 years. What is X?


Let's approach this using the TVM solver on a TI-84 calculator:

### Step-by-step inputs for the TVM Solver:

1. **N** = 16 (number of years you are withdrawing, since you plan to withdraw for 16 years)
2. **I%** = X (This is what we're solving for— the interest rate per year)
3. **PV** = -340,596 (The present value, which is the amount of money you have when you retire. It's negative because it's an outflow.)
4. **PMT** = 54,900 (The annual withdrawal amount. It's positive because it's an inflow relative to the present value.)
5. **FV** = 0 (At the end of the 16 years, you want the account to be fully withdrawn, so the future value is 0)
6. **P/Y** = 1 (Payments are made once per year)
7. **C/Y** = 1 (Interest is compounded once per year)
8. **Begin/End Mode** = END (The first withdrawal occurs in year 5, so we use the "End" setting for withdrawals)

Now, solve for **I%** using the TVM Solver.

### Solution:
After entering all these values into the TVM solver and calculating, the interest rate, **X**, comes out to approximately **6%** per year.

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Do you want more details or have any questions on this?  
Here are some related questions to explore:
1. What if the annual withdrawal amount changed to $60,000, how would that affect the interest rate?
2. How would the interest rate change if you planned to withdraw for 20 years instead of 16?
3. What would happen if you took the first withdrawal immediately upon retirement?
4. How does the calculation change if the withdrawals are monthly instead of yearly?
5. What if your retirement goal is different, say $500,000 instead of $340,596?

**Tip:** When using the TVM solver, always double-check if payments are set to "End" or "Begin" mode for accurate calculations.

You plan to retire in 4 years with $340,596. You plan to withdraw $54,900 per year for 16 years. The expected return is X percent per year and the first regular withdrawal is expected in 5 years. What is X?

Solve a retirement financial problem using the TVM solver on a TI-84 calculator. Calculate the interest rate required when withdrawing $54,900 annually for 16 years from a retirement fund of $340,596. Learn about compound interest and the time value of money (TVM) concept, suitable for advanced high school or college finance students.

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