Rather than spending her $ 2 0 , 0 0 0 in casino winnings, Christy places the
Fantastic news! We've Found the answer you've been seeking!
Question:
Rather than spending her $ in casino winnings, Christy places the money in an investment that will earn her per year, compounded annually. She will withdraw the money in five equal annual installments beginning one year from today. What must the approximate amount of each annual withdrawal be for this investment to be fully depleted in five years? Hint: Use an EXCEL function, PMTrate nper, pvfv
$
$
$
$
$
Posted Date: