Olivia has $200,000 deposited today (at t = 0) in an account at the Nashua Savings Bank which pays an annual interest rate of 4.4%. If starting next year (at t = 1) she wants to start making 6 annual equal withdrawals depleting the entire account, how much can can Olivia take out per year to the nearest cent?

Answer rating: 100% (QA)

To determine how much Olivia can withdraw from her account each year we need to calculate the accoun... View the full answer