Tabatha has saved $85, 700.00. If she decides to withdraw $2,726.00 at the beginning of every month and interest is 10.44% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).

Tabatha has saved $85, 700.00. If she decides to withdraw $2,726.00 at the beginning of every month and interest is 10.44% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Stock Market Indices

Stock indexes are used to compare the price fluctuations of a group of stocks of similar companies, which are combined based on a similar industry or a particular market capitalization limit or type of market. The price comparison is based on a pre-determined standard method or indicators. These stock indexes are usually considered a base for comparison of a particular stock, and the performance of that particular company can be easily determined.

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Tabatha has saved $85, 700.00. If she decides to
withdraw $2,726.00 at the beginning of every month
and interest is 10.44% compounded annually, for how
long can she make withdrawals? Express your answer in
years and months (from 0 to 11 months).

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