Find the amount necessary to fund the given withdrawals. Monthly withdrawals of $900 for 9 years;...

Question

Question

Find the amount necessary to fund the given withdrawals. Monthly withdrawals of $900 for 9 years; interest rate is 6.6% compounded monthly.

Answer 1

Answer #1

The amount necessary to fund the withdrawal is calculated as:-

=PV(rate,nper,pmt)

=PV(6.6%/12,9*12,-900)

=73143.21

Answer 2

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