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Peter invested $10,500 into a fund earning 7.25% compounded monthly. He plans to withdraw $900 from the fund at the end of every quarter. If
Peter invested $10,500 into a fund earning 7.25% compounded monthly. He plans to withdraw $900 from the fund at the end of every quarter. If the first annuity withdrawal is to be made 4 years from now, how long will it take for the fund to be depleted? years o months Express the answer in years and months, rounded to the next period Question 14 of 15 Peter invested $10,500 into a fund earning 7.25% compounded monthly. He plans to withdraw $900 from the fund at the end of every quarter. If the first annuity withdrawal is to be made 4 years from now, how long will it take for the fund to be depleted? 0 o months Express the answer in years and months, rounded to the next period years
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