Question
In 2007, Harold deposited $50,000 in an account paying 6% annual interest. Harold wants to make five equal annual withdrawals from the account starting with
In 2007, Harold deposited $50,000 in an account paying 6% annual interest. Harold wants to make five equal annual withdrawals from the account starting with the first withdrawal in 2018. Further, Harold wants to have exactly $100,000 left in the account in 2024. How large can each of the annual withdrawals be?
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Private Debt Yield Safety And The Emergence Of Alternative Lending
Authors: Stephen L. Nesbitt
2nd Edition
1119944392, 978-1119944393
