Question
Unit 13.2 Annuities Name For Problems 9-14, pretend you receive an inheritance of $650,000 and deposit it in a savings plan that earns 5.25% compounded
Unit 13.2 Annuities Name For Problems 9-14, pretend you receive an inheritance of $650,000 and deposit it in a savings plan that earns 5.25% compounded monthly. 9. If you want to live off the interest without withdrawing any of the $650,000 principal, what amount can you withdraw at the end of each month? Class ANSWI 10. How much can you withdraw at the end of each month if you want the plan to last 35 years? 11. How much can you withdraw at the end of each month if you want the plan to last 50 years? 12. If you withdraw $4,550 at the end of each month, how long will the plan last?
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