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A woman has $500,000 in an account. The account earns 9% per year over the next 15 years, how much will be in the account
A woman has $500,000 in an account. The account earns 9% per year over the next 15 years, how much will be in the account at the end of the 15 years? 5 points
She adds $100,000 to the account at the end of the 15 years and then transfers all the money into other account earning 5% a year. She begins to withdraw an equal amount at the end of each year from the account for the next 25 years after which she has nothing left. How much can she withdraw each year for the 25 years? 10 points
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