Question: If you save $ 9 0 0 at the beginning of every six months for twelve years , for how long can you withdraw $

If you save $900 at the beginning of every six months for twelve years, for how long can you withdraw $840 at the beginning of each six months starting twelve years from now, assuming that interest is 4% compounded semi dash annually? State your answer in years and months(from 0 to 11 months).

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!