You deposited $1,215.09 in the bank 25 years ago. You deposited another $4,000 in the account 3

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You deposited $1,215.09 in the bank 25 years ago. You deposited another $4,000 in the account 3 years ago.Exactly 35 years from today, you want to start withdrawing the same amount annually for 25 years of withdrawals.

Assuming a 5% discount rate, what is the amount of that annual withdrawal.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jun 21, 2023 07:50 AM

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You deposited $1,215.09 in the bank 25 years ago. You deposited another $4,000 in the account 3

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To determine the amount of the annual withdrawal we need to calculate the future value of the deposi... View the full answer

Income Tax Fundamentals 2013

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