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1. You have selected an account that yields 3.75% compounded every six months to invest the $6,250,000 that you have saved while you worked. How

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1. You have selected an account that yields 3.75% compounded every six months to invest the $6,250,000 that you have saved while you worked. How much can you withdrawal monthly from the account if you plan on living forever? Calculate the Nominal Interest Rate, the Interest Rate per Compounding period, the Effective Annual Interest Rate, the amount you would receive each month and the total amount you would receive each year? (5 answers)

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