You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account so that it lasts you exactly 14 years? Round to the nearest dollar. Type your numeric answer and submit

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
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You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account
so that it lasts you exactly 14 years? Round to the nearest dollar,
Type your numeric answer and submit
Transcribed Image Text:You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can make out of this account so that it lasts you exactly 14 years? Round to the nearest dollar, Type your numeric answer and submit
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