An account earning 3.2% annual interest contains 1 million dollars. If a fixed amount of money is withdrawn yearly for 50 years, what is the maximum amount that can be withdrawn? $46,291.63 $37,294.29 $40,354.39 $52,620.76 $31,425.31 a. b. с. d. е.
An account earning 3.2% annual interest contains 1 million dollars. If a fixed amount of money is withdrawn yearly for 50 years, what is the maximum amount that can be withdrawn? $46,291.63 $37,294.29 $40,354.39 $52,620.76 $31,425.31 a. b. с. d. е.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:An account earning 3.2% annual interest contains 1 million dollars. If a fixed amount of
money is withdrawn yearly for 50 years, what is the maximum amount that can be
withdrawn?
$46,291.63
$37,294.29
$40,354.39
$52,620.76
$31,425.31
а.
b.
с.
d.
е.
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