manwaringamelia manwaringamelia
  • 16-05-2024
  • Mathematics
Answered

You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.

Regular withdrawal: $1300
Interest rate: 3.5%
Frequency daily
Time: 19 years



Answer :

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