Your great$-$uncle Claude is $82$ years old. Over the years, he has accumulated savings of $$180,000.$ He estimates that he will live another $18$ years at the most and wants to spend his savings by then. $($If he lives longer than that, he figures you will be happy to take care of him.$)$ Uncle Claude places his $$180,000$ into an account earning $9$ percent annually and sets it up in such a way that he will be making $18$ equal annual withdrawals$$the first one occurring one year from now$$such that his account balance will be zero at the end of $18$ years. How much will he be able to withdraw each year?

Question $10$Answer

a$.$

$$28,047\mathrm{.}62$

b$.$

$$13,019\mathrm{.}63$

c$.$

$$10,000\mathrm{.}00$

d$.$

$$20,558\mathrm{.}21$