You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make? Please break down
You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make? Please break down
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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You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make? Please break down
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