Starting three years from now, Dustin plans to withdraw $450 at the beginning of every three months

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Starting three years from now, Dustin plans to withdraw $450 at the beginning of every three months for five years. If he has $7200 now in his savings, and the account earns interest at 4% compounding quarterly during the first three years, what is the nominal interest rate compounded quarterly during the last five years?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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