Question
In order to help you through college, your parents just deposited $23,000 into a bank account paying 5.7% interest. Starting tomorrow you plan to withdraw
In order to help you through college, your parents just deposited $23,000 into a bank account paying 5.7% 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. | $6,236.58 | |
| 4. | $6,395.88 | |
| 5. | $6,815.57 |
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Financial Derivative Investments An Introduction To Structured Products
Authors: Richard D. Bateson
1st Edition
1848167113, 9781848167117
