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What is the principal invested at 7.74% compounded semi-annually from which monthly withdrawals of end of each month for 22 years? PMT = 450 %3D VY = 0.0774 %3D C/Y = 2 %3D i= 0.0387 %3D # of payment in one year = 12 C= 0.167 p= 0.0856 up to 4 decimal places 'n= 264 FV = $ 57549.44 up to 2 decimal places Total Withdrawl = $ 118800

What is the principal invested at 7.74% compounded semi-annually from which monthly withdrawals of end of each month for 22 years? PMT = 450 %3D VY = 0.0774 %3D C/Y = 2 %3D i= 0.0387 %3D # of payment in one year = 12 C= 0.167 p= 0.0856 up to 4 decimal places 'n= 264 FV = $ 57549.44 up to 2 decimal places Total Withdrawl = $ 118800

Essentials Of Investments
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
Problem 1PS
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What is the principal invested at 7.74% compounded semi-annually from which monthly withdrawals of $450.00 can be made at the end of each month for 22 years? PMT = 450 1/Y = 0.0774 %3D C/Y = 2 i= 0.0387 # of payment in one year = 12 C = 0.167 p= 0.0856 up to 4 decimal places n 264 Up to 2 decimal places FV $ 57549.44 Total Withdrawl = $ 118800 %3D Interest = $ 61250.56
Transcribed Image Text:What is the principal invested at 7.74% compounded semi-annually from which monthly withdrawals of $450.00 can be made at the end of each month for 22 years? PMT = 450 1/Y = 0.0774 %3D C/Y = 2 i= 0.0387 # of payment in one year = 12 C = 0.167 p= 0.0856 up to 4 decimal places n 264 Up to 2 decimal places FV $ 57549.44 Total Withdrawl = $ 118800 %3D Interest = $ 61250.56
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