Your grandmother left you $100,000 in a trust fund that pays 8.5% interest. You must spend the
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Question:
Your grandmother left you $100,000 in a trust fund that pays 8.5% interest. You must spend the money on your college education, and you must withdraw the money in 3 equal installments, beginning immediately. How much could you withdraw at the beginning of each year and end up with zero in the account? (First make a time-line indicating inflows and outflows and then calculate for the asked output).
( Use of BA-2 plus calculator is mandatory and also write keys)
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