Question

You want to be able to withdraw $40,000 each year for 15 years. Your account earns...

You want to be able to withdraw $40,000 each year for 15 years. Your account earns 6% interest.

a) How much do you need in your account at the beginning? $

b) How much total money will you pull out of the account? $

c) How much of that money is interest? $

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Answer #1

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