Question
You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like
You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make? (HARD) (HARD...be careful with signs)
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Foundations Of Financial Markets And Institutions
Authors: Frank J Fabozzi, Franco G Modigliani, Frank J Jones
4th Edition
0136135315, 978-0136135319
