Suppose 10 years ago your father deposited $ 25,000 in an account earning 4.6%. Every year you withdrew $1,200 (your first withdrawal occurred 9 years ago, your last withdrawal is today, you withdrew 10 times in total). How much money is in the account after you withdrew today? Round your final answer to two decimal places.
Suppose 10 years ago your father deposited $ 25,000 in an account earning 4.6%. Every year you withdrew $1,200 (your first withdrawal occurred 9 years ago, your last withdrawal is today, you withdrew 10 times in total). How much money is in the account after you withdrew today? Round your final answer to two decimal places.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 10PROB
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Suppose 10 years ago your father deposited $ 25,000 in an account earning 4.6%. Every year you withdrew $1,200 (your first withdrawal occurred 9 years ago, your last withdrawal is today, you withdrew 10 times in total). How much money is in the account after you withdrew today? Round your final answer to two decimal places.
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