Question
In order to help you through college, your parents just deposited $22,000 into a bank account paying 11.09% interest. Starting tomorrow you plan to withdraw
In order to help you through college, your parents just deposited $22,000 into a bank account paying 11.09% interest. Starting tomorrow you plan to withdraw equal amounts from the account at the beginning of each of the next four years. What is the MOST you can withdraw annually?
| 1. | $5,136.91 | |
| 2. | $5,445.12 | |
| 3. | $5,771.83 | |
| 4. | $6,395.54 | |
| 5. | $7,104.81 |
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Contemporary Issues In Behavioral Finance
Authors: Simon Grima
1st Edition
1787698823, 978-1787698826
