The trustees of a college have accepted a gift of

$225,000,

but are required to deposit it in an account paying

12%

per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last

4

years. Find the amount of each withdrawal.

The trustees of a college have accepted a gift of $225,000, but are required to deposit it in an account paying 12% per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last 4 years. Find the amount of each The amount of each withdrawal is $ withdrawal