You will deposit $2,000 today. It will grow for six years at 10% interest compounded semi-annually. You
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Question:
You will deposit $2,000 today. It will grow for six years at 10% interest compounded semi-annually. You will then withdraw the funds annually over the next four years at the end of each year. The annual interest rate is 8%. Your annual withdrawal will be approximately ______.
$2,340 |
$4,332 |
$797 |
$1,085 |
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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