If you have $ 7 2 0 , 0 0 0 in an account earning 4 percent

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Question:

If you have $

720, 000

in an account earning

4

percent annually, what constant amount could you withdraw at the end of each month and have nothing remaining at the end of

20

years?

Related Book For answer-question

Construction accounting and financial management

ISBN: 978-0135017111

2nd Edition

Authors: Steven j. Peterson

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Posted Date: Mar 16, 2024 04:38 AM

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If you have $ 7 2 0 , 0 0 0 in an account earning 4 percent

Question:

Expert Answer:

Heres how to calculate the constant monthly withdrawal amount you can make to deplete your account in 20 years 1 Approach We can use the Future Value ... View the full answer

Construction accounting and financial management

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