Question
You just turned 18 today and you want to save some money to take a vacation to Rio, Brazil when you turn 22 and spend
You just turned 18 today and you want to save some money to take a vacation to Rio, Brazil when you turn 22 and spend 2 years there. Starting next quarter, you will deposit $2000 every quarter until you turn 21. Your last payment will be on your 21st. birthday. You want to make two withdrawals, one on your 22nd and another on your 23rd birthday. Assume the interest rate is 7 percent compounded daily (365) throughout these years. What is your annual withdrawal on your 22nd and 23rd birthday?
| $26,472.81 | ||
| $14,692.67 | ||
| $12,014.84 | ||
| $13,587.91 | ||
| $11,089.50 |
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Handbook Of Modeling High Frequency Data In Finance
Authors: Frederi G. Viens, Maria Cristina Mariani, Ionut Florescu
1st Edition
0470876883, 978-0470876886
