HW21: Problem 4 Previous Problem Problem List Next Problem Results for this submission Entered Answer Preview Result 552.83 552.83 incorrect The answer above is NOT correct. (4 points) Grandma decides to put 1400 dollars every month into an account for you. She makes 18 monthly deposits, the last coming September 1, 2003 - the day you start college. She wants you to be able to withdraw money from this account at the beginning of each month, with the first withdrawal coming September 1, 2003 and the last coming June 1, 2008, (when you'll graduate). (Note: that makes 58 withdrawals total.) How much will you be able to withdraw each month if the account is earning a nominal interest rate of 7.8 percent convertible monthly? Answer = 552.83 dollars. Preview My Answers Submit Answers Your score was recorded. You have attempted this problem 8 times. You received a score of 0% for this attempt. Your overall recorded score is 0%. You have unlimited attempts remaining