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In 4 years you will graduate from college. You know that 20 years ago a wealthy relative put $100,000 in an account that he plans
In 4 years you will graduate from college. You know that 20 years ago a wealthy relative put $100,000 in an account that he plans to turn over to you upon graduation. You want to use that money to spend the two years after graduation traveling. How much money will you have to spend each year? Assume an interest rate of 5%. (Assume that you spend the money all at once at the end of the year. For example if graduate on May 31, 2025, on May 31, 2026 you withdraw the first paymentsfrom the account. |
Group of answer choices
$142,696
$161,255
$50,000
$173,447
None of these other answers are correct
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