On his 45th birthday M deposited R1000 in a fund paying 3.5% and continued making such deposits each year, the last on his 64th birthday. Beginning on his 65th birthday, M plans to make equal annual withdrawals of R2000. How many such withdrawals can he make?

Answer rating: 100% (QA)

To find out how many withdrawals M can make starting on his 65th birthday we need to calculate the f... View the full answer