You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $200,000 Interest rate: 2.9% Frequency monthly 24 years Time: Periodic Withdraw: $
You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $200,000 Interest rate: 2.9% Frequency monthly 24 years Time: Periodic Withdraw: $
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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Question
Transcribed Image Text:You expect to have the given amount in an account with the given terms. Find how much you can withdraw
periodically in order to make the account last the specified amount of time. Round your answer to the
nearest cent.
Account balance:
$200,000
Interest rate:
2.9%
Frequency
monthly
24 years
Time:
Periodic Withdraw: $
Enter an intes
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