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How do you get 3.839? 3.839 is the correct answer. Question 11 3/3 pts The sum of P4100 will be withdrawn from a fund at
How do you get 3.839? 3.839 is the correct answer.
Question 11 3/3 pts The sum of P4100 will be withdrawn from a fund at 3-month intervals, the first withdrawal to be made 3 months hence. The principal in the fund at present is P41,000, and the interest rate of the fund is 9 percent per quarterly period. How many withdrawals can be made, if it is necessary to maintain a minimum balance of P9000 in the fund? Round your final answer to 4 decimal places, do not round your intermediate solutions. 3.839Step by Step Solution
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