Monthly withdrawals of $650 for 9 years; interest rate is 4.2% compounded monthly. Whats the amount...

Question

Question

Monthly withdrawals of $650 for 9 years; interest rate is 4.2% compounded monthly. Whats the amount neccessary to fund the given withdrawals?

Answer 1

Answer #1

А 1 Interest rate (Monthly) 2 Loan amount (PMT) 3 no. of months (Nper) 0.35% <-- =4.2%/12 $650.00 <- 650 108 <-- =9*12 5 Fund

Answer 2

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