Question
John has $200,000 deposited today (at t = 0) in an account at the TD Bank which pays an annual interest rate of 4.4%. If
John has $200,000 deposited today (at t = 0) in an account at the TD Bank which pays an annual interest rate of 4.4%. If starting next year (at t = 1) she wants to start making 6 annual equal withdrawals depleting the entire account, how much can can John take out per year to the nearest cent?
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An Introduction to Investment Banks, Hedge Funds, and Private Equity
Authors: David P. Stowell
1st edition
978-0123745033, 0123745039, 978-9380931074
