Question
Your family has given you 199,836 dollars and today you have decided to put that money in a savings account that yields 4% per year
Your family has given you 199,836 dollars and today you have decided to put that money in a savings account that yields 4% per year (annual compounding). However, you already know that one year from today you will have to use part of that money to pay for a 13,042 dollars expense, and another expense of 29,311 dollars two years from now. If you are planning to collect whatever is left in your savings at time 5, how much money will you be able to withdraw at that point (maximum value)? (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)
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