Question
Rayna has saved $87,600.00. If she decides to withdraw $2,502.00 at the beginning of every three months and interest is 3.07% compounded monthly, for how
Rayna has saved $87,600.00. If she decides to withdraw $2,502.00 at the beginning of every three months and interest is 3.07% compounded monthly, for how long can she make withdrawals? 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.)
Please answer with steps involved for calculation
Rayna has saved $87,600.00. If she decides to withdraw $2,502.00 at the beginning of every three months and interest is 3.07% compounded monthly, for how long can she make withdrawals? 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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Sport Finance
Authors: Gil Fried, Timothy D. DeSchriver, Michael Mondello
4th Edition
1492559733, 978-1492559733
