You have just inherited $150,261 from a trust that has matured. You would like to invest the total amount into an account that pays you an annual compounded interest rate of 9.1%, and you would like to make annual withdrawals over the next 20 years such that by the end of this 20 year period, the amount remaining in the account will be zero dollars. Determine, from the given information, the amount of the annual withdrawals. Round to the nearest cent. a. $16,578.03 c. $15,978.10 b. $162,851.31 d. $15,575.98
+5
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You have just inherited $150,261 from a trust that has matured. You would like to invest the total amount into an account that pays you an ...” 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.
Home » Mathematics » You have just inherited $150,261 from a trust that has matured. You would like to invest the total amount into an account that pays you an annual compounded interest rate of 9.