Question: Aryssa has saved $ 8 5 , 3 0 0 . 0 0 . If she decides to withdraw $ 3 , 0 3 0

Aryssa has saved $85,300.00. If she decides to withdraw $3,030.00 at the beginning of every month and interest is 7.41% compounded semi-annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).
Her last withdrawal will occur year(s) and month(s) from now.
(Type whole numbers.)
 Aryssa has saved $85,300.00. If she decides to withdraw $3,030.00 at

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!