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 $1,205.78 from an account paying 5.5% interest, ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Todd usually walks to his school, Wilson Christian Academy. It takes less than 15 minutes. When it is raining Todd's mom drives him to school. This is faster than walking but it takes more tan 5 minutes.
Answers (1)
allen has a debt of 500$. He owes equal amounts to 10 different people. Express his debt to one person as a negative number.
Answers (1)
A large candy bar was 127 calories. The smaller candy bar has 25 percent less calories. How many calories does the smaller candy bar have?
Answers (1)
The edge of each cube used to build this rectangular prism is 1/3 inch long. Which equation shows the volume of the prism, in cubic inches?
Answers (1)
Tables for a banquet should be placed about 5 feet apart to allow room for people to walk between them. If one circular table has a radius of 4 feet and a center at C (-4, 6), find the center and equation of the table immediately to the left.
Answers (1)
New Questions in Mathematics
Which of the following is a perfect square? 65, 144, 68, 131
Answers (2)
What does Pythagorean Theorem do or find? (100 PTS) !
Answers (2)
A car is 210 inches long. A trubkis 60% longer than the car. How long is the truck?
Answers (2)
2p - 1/q = r/q + 4, subject q
Answers (1)
Solve the equation using the quadratic formula: 2x^2-5x+2=0
Answers (1)