Aryssa has saved $84,100.00. If she decides to withdraw $3,337.00 at the beginning of every month and interest is 8.01% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months)
Aryssa has saved $84,100.00. If she decides to withdraw $3,337.00 at the beginning of every month and interest is 8.01% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months)
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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Transcribed Image Text:Aryssa has saved $84,100.00. If she decides to withdraw $3,337.00 at the beginning of every month and interest is
8.01% 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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