1a.) Suppose you inherited $318,348 and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years?

$28,532

$29,959

$31,457

$33,030

$34,681

b. You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $7,717.52 per year, beginning immediately. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today?

$20,993

$22,098

$23,261

$24,424

$25,645

c. Charter Bank pays a 4.94% nominal rate on deposits, with monthly compounding. What effective annual rate (EFF%) does the bank pay?

3.72%

4.13%

4.59%

5.05%

5.56%