Question
Your mother has $550,000 in her account and he needs to receive monthly payments of $5,000. If she receives the payments at the end of
Your mother has $550,000 in her account and he needs to receive monthly payments of $5,000. If she receives the payments at the end of the month, and the current interest rate is 7 percent, compounded quarterly, how many months will her investment account last for?
| 120 months | ||
| 175 months | ||
| 98 months | ||
| 206 months |
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Quantitative Financial Analytics The Path To Investment Profits
Authors: Edward E Williams, John A Dobelman
1st Edition
9813224258, 978-9813224254
