Question
Stuart plans to make 25 withdraws from his savings account that pays 6.44% per year. He will make his withdrawals at the end of each
Stuart plans to make 25 withdraws from his savings account that pays 6.44% per year. He will make his withdrawals at the end of each quarter and plans to have zero balance in his account once all the withdrawals are complete. Find the size of each withdrawal if he makes his first withdrawal next quarter and deposits $26,111 today.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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