Question
Ling has saved $73,700.00. If she decides to withdraw $2,819.00 at the beginning of every month and interest is 11.25% compounded quarterly, for how long
Ling has saved $73,700.00. If she decides to withdraw $2,819.00 at the beginning of every month and interest is 11.25% compounded quarterly, for how long can she makewithdrawals? 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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Public Finance
Authors: Harvey S Rosen
6th Edition
0072374055, 978-0072374056
