You have $19,000 in an account earning an interest rate of 4.1%. What are the annual...
You have $19,000 in an account earning an interest rate of 4.1%. What are the annual end-of-year withdrawals you can make from this account before it is depleted in 10 years? Round to two decimal places.
Homework Answers
This question requires application of PV of annuity concept, according to which
PV =
19000 = P * 8.0707
P = $2,354.20
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