Question
1. Suppose you have $80,000 in a savings account earning 1.9%. You would like to make weekly withdrawals of $300 from this account. How many
1. Suppose you have $80,000 in a savings account earning 1.9%. You would like to make weekly withdrawals of $300 from this account. How many weekly withdrawals will you be able to make? Round to the nearest whole number.
2. You'd like to save $200,000. If you were to invest $13,000 per year for 11 years, what annual rate of return would you need to earn on your investment in order to reach your savings goal? Answer in percent, rounded to one decimal place.
3. Suppose you have $12,000 in a savings account. You would like to make weekly withdrawals of $63 from this account for the next 4 years. What annual interest rate would you need? Answer in percent, rounded to one decimal place (e.g., 6.71% --> 6.7)
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