First, will have to find how much money is she able to save for 40 years at $5,000 annual deposit.
The FV of her 40 deposits @ 6% comp. annually=$773,809.83.
Second, will have to find a 2 to 1 factor to apportion her withdrawal payments for the 30 years. And that factor comes to: 17.8174133152.
Then we just divide her total savings by this last factor and we get: $773,809.83 / 17.8174133152=$43,429.98, which would her withdrawals for the first 15 years.
Finally, $43,429.98 x 2 =$86,859.96, which will be her payments for the last 15 years.
P.S. ALL THESE FORMULAE ARE USED IN THE ABOVE CALCULATIONS:
1=PV=FV[1 + R]^-N=PV OF $1 IN THE FUTURE.
2=FV=PV[1 + R]^N=FV OF $1 TODAY.
3=FV=P{[1 + R]^N - 1/ R}=FV OF $1 PER PERIOD.
4=PV=P{[1 + R]^N - 1.[1 + R]^-N} R^-1=PV OF $1 PER PERIOD.
5=PMT=PV. R.{[1 + R]^N/ [1 + R]^N - 1}=PMT NEEDED TO PAY OFF A LOAN OF $1
Where R=Interest rate per period, N=number of periods, P=periodic payment, PV=Present value, FV=Future value.