Mathematics, 30.12.2019 18:31 ayoismeisalex
An account paying 4.6% interest compounded quarterly has a balance of $506,732.32. determine the amount that can be withdrawn quarterly from the account for 20 years, assuming ordinary annuity.
a.
$9,722.36
b.
$6,334.15
c.
$23,965.92
d.
$7,366.99
Answers: 1
![P=A[ \frac{1-(1+i)^{-n} }{i} ]](/tpl/images/0437/4061/98ea4.png)
![$506,732.32=A[ \frac{1-(1+0.0115)^{-80} }{0.0115} ]](/tpl/images/0437/4061/d8d96.png)
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An account paying 4.6% interest compounded quarterly has a balance of $506,732.32. determine the amo...
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