Question
You are going to withdraw $4,500 at the end of each year for the next five years from an account that pays interest at a
You are going to withdraw $4,500 at the end of each year for the next five years from an account that pays interest at a rate of 8% compounded annually. How much must there be in the account today in order for the account to reduce to a balance of zero after the last withdrawal?
| *$14,904.57 | ||
| * | $16,096.94 | |
| *$17,967.20 | ||
| *$18,327.20 | ||
| *$19,404.57 |
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Simple Tools And Techniques For Enterprise Risk Management
Authors: Robert J. Chapman
1st Edition
1119989973, 978-1119989974
