You have 300000 saved for retirement Your account earns 5 in

You have $300,000 saved for retirement. Your account earns 5% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?

Annuity = (r*PV) / {1 - (1 + r)^-n}

= [(0.05/12)*($300,000)] / {1 - (1 + 0.05/12)^-(15*12)}