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Simone has $ 1 5 , 0 0 0 invested in a mutual fund. She has set up a withdrawal plan, in which she withdraws

Simone has $15,000 invested in a mutual fund. She has set up a withdrawal plan, in which she withdraws 10% at the end of each year. Assuming that the portfolio will grow by a steady 8% per year, what is the value remaining in the portfolio at the end of the first year?
a) $14,180.00
b) $14,580.00
c) $13,500.00
d) $14,246.40
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