Question
(2) If Crystal invests $1000 at 4% per year compounded semiannually, how much can she withdraw at the end of every 6 months to use
(2) If Crystal invests $1000 at 4% per year compounded semiannually, how much can she withdraw at the end of every 6 months to use up the fund exactly at the end of 20 years? (Ans $36.56)
(a) Express the answer in terms of present value annuity symbols (that is, a or ).
(b) Evaluate numerically.
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Mathematics Of Finance An Intuitive Introduction
Authors: Donald G. Saari
1st Edition
3030254429, 978-3030254421
