Question

Starting one month from now, you need to withdraw

$230230

per month from your bank account to help cover the costs of your university education. You will continue the monthly withdrawals for the next four years. If the account pays

0.40.4%

interest per month, how much money must you have in your bank account today to support your future needs?

How much money must you have in your bank account today to support your future needs?

$nothing

(Round to the nearest cent.)

Answer #1

Answer question

Starting one month from now, you need to withdraw
$250 per month from your bank account to help cover the costs of
your university education. You will continue the monthly
withdrawals for the next four years. If the account pays
0.2% interest per month, how much money must you have in your bank
account today to support your future needs?
How much money must you have in your bank account today to support
your future needs?
$
(Round to the...

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Amount needed
$

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