Question
Christopher invested $11,500 into a fund earning 7.50% compounded quarterly. She plans to withdraw $650 from the fund at the end of every month. If
Christopher invested $11,500 into a fund earning 7.50% compounded quarterly. She plans to withdraw $650 from the fund at the end of every month. If the first annuity withdrawal is to be made 5 years from now, how long will it take for the fund to be depleted?
years
months
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Financial statements
Authors: Stephen Barrad
5th Edition
978-007802531, 9780324186383, 032418638X
