a person has won $500 000. They invest it at 12% compounded semi-annually. They decide to live off the investment, withdrawing an amount every six months. Determine how much money they can withdraw each compounding period (every six months) if they want the money to last 50 years. You can use a TVM advanced calculator.

Answer the following amounts:

Present Value:

Payments:

Future Value:

Annual Rate (%):

Periods (n*t):

Compounding: