Question: You currently have $ 8 0 , 0 0 0 which you will need to cover your expenses over the next 4 years of your

You currently have $80,000 which you will need to cover your expenses over the next 4 years of your studies. The funds are in an account paying 10% per year. You estimate the cost in the first year to be $20,000 but you arent sure about the costs for the remaining three years. You would like to know how much you could withdraw annually (as an equal annual sum) for each of the remaining three years. Find the annual withdrawal you could afford for those final 3 years (within $200).

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