Question: You plan to build an annuity by saving $1500 per month (at a monthly interest rate of r =,006) for 15 years ( 180 m

You plan to build an annuity by saving $1500 per month

You plan to build an annuity by saving $1500 per month (at a monthly interest rate of r =,006) for 15 years ( 180 m onths). You will then draw on the annuity for the following 25 years (=360 months), when the monthly interest rate will be r -.007. How much can you withdraw per month to guarantee that the annuity will exist for exactly 25 years? ca. $3256.91 b.3573.22 C. 53863.15 d. None of these

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