Ask Question
9 April, 08:08

ou have just received an inheritance of $28,000 and would like to invest it into an account. The bank offers two investment plans, one for 4 years at 5.8% compounded annually and another for 3 years at 7.083% compounded annually. You want to make equal annual withdrawals from the account over the life time of the loan. Which investment will yield the highest annual withdraw and by what amount, given that the account will be zeroed out by the end of that period? Round your answer to the nearest cent.

+2
Answers (1)
  1. 9 April, 11:17
    0
    add

    Step-by-step explanation:

    do first to last
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “ou have just received an inheritance of $28,000 and would like to invest it into an account. The bank offers two investment plans, one for ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers