Question
Michelle set aside $40000 today at her bank account to pay for her son's university in 2 years. How much her son can withdraw each
Michelle set aside $40000 today at her bank account to pay for her son's university in 2 years. How much her son can withdraw each month for 4 years, assuming her son will attend the university 2 years from today and his first withdraw is at the end of each month starting 2 years from today? Interest rate is 5% compounding annually.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
