You plan on supplementing your income. You would like to withdraw a monthly salary of $1,205.78 from an account paying 5.5% interest, compounded monthly. Determine the amount needed in the account such that you can withdraw the needed amount at the end of each month for 5 years. Round to the nearest cent.
a. $83,055.12
b. $63,415.33
c. $72,346.00
d. $63,126.00
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You plan on supplementing your income. You would like to withdraw a monthly salary of $1,205.78 from an account paying 5.5% interest, ...” 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
You Might be Interested in
Angle N = 40 degrees, side NP = 8, angle Q = 40 degrees, and side QS = 8. What additional information would you need to prove that ΔNOP ≅ ΔQRS by ASA?.
Answers (1)
Each time you repeat an experiment it's called
Answers (2)
The annual interest rate of Belinda's savings account is 6.8%, and simple interest is calculated quarterly. What is the periodic interest rate of Belinda's account? A. 1.07% B. 0.85% C. 1.7% D. 3.4%
Answers (1)
Which of the following factors may be used to find the positive zero of the function f (x) = 2x2 + 8x - 24? A. (x - 4) B. (2x - 2) C. (2x - 4) D. (2x - 6)
Answers (1)
Read the numbers and decide what the next number should be. 3 4 7 13 14 17 23
Answers (1)
New Questions in Mathematics
Louis wants to carpet the rectangular floor of his basement. The basement has an area of 864 sq. Feet. The width of the basement is 2/3 its length What is the length of Louis's basement.
Answers (1)
A radio station broadcast signal over an area with the radius of 50 miles. the station can relay the signal and broadcast over there with the radius is 75 miles. how much greater is the area of the broadcast region when the signal is relayed.
Answers (1)
There are 126 seats in a meeting room. There are 9 seats filling up each row. There are 90 people seated, filling up full rows. How many rows are empty? Answer the question with steps or you will not get brainliest.
Answers (2)
I have 30 ones, 82 thousnads, 4 hundred thousands, 60 tens and 100 hundreds. what am I?
Answers (1)
What is the answer to: if T (n) = 4n-1
Answers (1)