Dennis plans to save $74,400.00 per year for 4 years. His first savings contribution is expected later today. He then plans to make withdrawals for 7 years. How much can Dennis expect to withdraw each year if he expects to earn 13.56 percent per year, he makes equal annual withdrawals, and his first withdrawal is in 5 years? O $95,044.58 (plus or minus 10 dollars) O $83,695.47 (plus or minus 10 dollars) O $77,267.89 (plus or minus 10 dollars) O $73,701.54 (plus or minus 10 dollars) O none of the answers are within 10 dollars of the correct answer
Dennis plans to save $74,400.00 per year for 4 years. His first savings contribution is expected later today. He then plans to make withdrawals for 7 years. How much can Dennis expect to withdraw each year if he expects to earn 13.56 percent per year, he makes equal annual withdrawals, and his first withdrawal is in 5 years? O $95,044.58 (plus or minus 10 dollars) O $83,695.47 (plus or minus 10 dollars) O $77,267.89 (plus or minus 10 dollars) O $73,701.54 (plus or minus 10 dollars) O none of the answers are within 10 dollars of the correct answer
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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
Transcribed Image Text:Dennis plans to save $74,400.00 per year for 4 years. His first savings contribution is expected later today. He then plans to make withdrawals for 7 years. How
much can Dennis expect to withdraw each year if he expects to earn 13.56 percent per year, he makes equal annual withdrawals, and his first withdrawal is in
5 years?
O $95,044.58 (plus or minus 10 dollars)
O $83,695.47 (plus or minus 10 dollars)
O $77,267.89 (plus or minus 10 dollars)
O $73,701.54 (plus or minus 10 dollars)
O none of the answers are within 10 dollars of the correct answer
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