Question

E Find the amount necessary to fund the given withdrawals. Quarterly withdrawals of $950 for 9 years; interest rate is 5.1% compounded quarterly. The amount necessary to fund the given withdrawals is $ (Round to the nearest cent as needed.)

Answer 1

sd Quarterly with drawl of 950 dollars years at the Rate of 5.1% for a Commanded Bulentély Quarterly Rate of interest 5.1. 0-5667 9 Number Quartors in a years qxq Present value of these 81 withdrowo). P. v 9 [C1+r)^ -1 a (1 ton 950[[ 170-0056) 8-) 0.0056 (1+0.005) 950 [ 1-5719779101 -1] 0.0056 [1.0056]81 81

2 950 (1.5719779101-1] 0.0056 [15719779101 950 C0.5719779101] 0.0056 [1571977410) 543.379014595 0.00880 30763 = 61,726.0371 the amounts of necessary to fund drawl 61,726-0371 dollars. with