Rose has saved $90 000. If she decides to withdraw $4000 at the beginning of each month and interest is 6.25% compounded annually, for how long can she make withdrawals?
Rose has saved $90 000. If she decides to withdraw $4000 at the beginning of each month and interest is 6.25% compounded annually, for how long can she make withdrawals?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 19PROB
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- Rose has saved $90 000. If she decides to withdraw $4000 at the beginning of each month and interest is 6.25% compounded annually, for how long can she make withdrawals?
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