Question: Please walk through the steps needed for these calculations 2. Emma receives $100,000 as a gift, which is deposited in a 6% nominal annual rate

Please walk through the steps needed for these calculations 2. Emma

Please walk through the steps needed for these calculations

2. Emma receives $100,000 as a gift, which is deposited in a 6% nominal annual rate compounded monthly. If $5,000 is withdrawn at the end of each half year, approximately how long will the money last?| (a) 15.5 years (b) 18 years (C) 21 years (d) 31 years

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