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Annie Laerz wants to invest $10,000 on January 1, 2020, so that she may withdraw 10 annual payments of equal amounts beginning January 1, 2035.
Annie Laerz wants to invest $10,000 on January 1, 2020, so that she may withdraw 10 annual payments of equal amounts beginning January 1, 2035. If the fund earns 5% annual interest over its life, what will be the amount of each of the withdrawals? (Use spreadsheet software or a financial calculator to calculate your answer. Round intermediary calculations two decimal places and round your final answer to the nearest dollar.)
A.
$3,386
B.
$10,000
C.
$2,564
D.
$2,692
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