Question
Microsoft Co. places 150,000 in an investment that has a return of 8%. The investment is placed there for 12 years, and then at the
Microsoft Co. places 150,000 in an investment that has a return of 8%.
The investment is placed there for 12 years, and then at the end of 12th year, annual withdrawals begin and continue for 6 years. What is the annual amount that may be withdrawn during the 6-year period?
a. 53,980
b. 64,400
c. 72,779
d. 81,708
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
