BONUS! An investor has accumulated $410000 in her retirement account that pays a 3.63% interest rate compounded monthly. She plans to withdraw $5000 per month. Find the number of withdrawals before the value of the account drops below $100000
BONUS! An investor has accumulated $410000 in her retirement account that pays a 3.63% interest rate compounded monthly. She plans to withdraw $5000 per month. Find the number of withdrawals before the value of the account drops below $100000
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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BONUS! An investor has accumulated $410000 in her retirement account that pays a 3.63% interest rate compounded monthly.
She plans to withdraw $5000 per month. Find the number of withdrawals before the value of the account drops below $100000.
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