When his aunt died, Ariel inherited an annuity paying $10 000 per year into a savings account

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When his aunt died, Ariel inherited an annuity paying $10 000 per year into a savings account for 8 years. The terms of the will state that he cannot withdraw any money for the first 8 years, and then he can withdraw equal amounts at the end of each year for 10 years. If interest is 4.15% compounded annually, what will be the size of each withdrawal?
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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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