You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account so that it lasts you exactly 14 years? Round to the nearest dollar. Type your numeric answer and submit

You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account so that it lasts you exactly 14 years? Round to the nearest dollar. Type your numeric answer and submit

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account
so that it lasts you exactly 14 years? Round to the nearest dollar,
Type your numeric answer and submit

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