You decide to withdraw $12,000 at the beginning of each six months for 18 years from your savings account that has $340,000 currently. What nominal rate of interest compounded monthly must be set so as to allow you to withdraw funds for 18 years? Answer the following questions, and choose the closest answer from the possible choices following each question 

This is question is an example of ....................................

Which financial calculator key should be set equal to zero?

Which variable in the financial calculator does $12.000 represent? 

The variable C should be set equal to ...........................

How many semi-annual payments are there in the term? 

Your answer for the nominal annual rate (express in percentage with two decimal places i e. 019) is .................  

Answer rating: 100% (QA)

This question is an example of IY Which financial calculator key shou... View the full answer