Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone help me with getting the question below using excel? I have tried a few examples and I am not able to get the

Can someone help me with getting the question below using excel? I have tried a few examples and I am not able to get the correct answer.

First you invest $100,000 at 4.8% interest for n = 3 years. Then one year later (at t = n + 1) you start annual withdrawals for 8 years until it is exhausted. How much can you withdraw per year? Hint: draw a timeline diagram.

Correct Answer:

Correct 17,665.13 0.1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook Of Credit Risk Management

Authors: Sylvain Bouteille, Diane Coogan-Pushner

2nd Edition

ISBN: 1119835631, 978-1119835639

More Books

Students also viewed these Finance questions

Question

What are the desired attributes of good board members?

Answered: 1 week ago