Problem $7-06$

A widow currently has a $$90,000$ investment that yields $5$ percent annually. Can she withdraw $$22,000$ for the next five years? Use Appendix D to answer the question. Round your answer to the nearest dollar.

The maximum amount that can be withdrawn is $ so she withdraw $$22,000$ for the next five years.

Would your answer be different if the yield were $8$ percent? Use Appendix D to answer the question. Round your answer to the nearest dollar.

If the yield is $8$ percent the maximum amount that can be withdrawn is $ so she withdraw $$22,000$ for the next five years.