Question
Ling has saved $71,200.00. If she decides to withdraw $3022.00 at the beginning of every month and interest is 5.25% compounded semi-annually, for how long
Ling has saved $71,200.00. If she decides to withdraw $3022.00 at the beginning of every month and interest is 5.25% compounded semi-annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).
Her last withdrawal will occur ___ year(s) and ___ month(s) from now. (Type whole numbers.)
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
3rd Edition
007337590X, 9780073375908
