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At age 13 you inherited $242000 and invested it at 8% compounded annually. How much can you withdraw annually in order to deplete the account
At age 13 you inherited $242000 and invested it at 8% compounded annually. How much can you withdraw annually in order to deplete the account if the first withdrawal is at age 31 and the last is at age 61? Note: your answer must be within $100 of the correct answer.
This is my second time posting this on chegg. These are answers I have tried that are incorrect: 85899.39, 58461.68, 56400, 85800, 85199.46, 79536.47, 91198.91, 73644.88.
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