Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. advance math
  3. you want to be able to withdraw the specified amou

You want to be able to withdraw the specified amount periodically from a payout annuity with...

60.2K

Verified Solution

Question

Advance Math

You want to be able to withdraw the specified amountperiodically from a payout annuity with the given terms. Find outhow much the account needs to hold to make this possible. Roundyour answer to the nearest dollar.

regular withdraw: $1900
interest rate: 2%
frequency: quarterly
time: 28 years

Answer & Explanation Solved by verified expert
4.5 Ratings (1120 Votes)
Payout annuities are typically used after retirement With apayout annuity you start with money    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

B.F., age 28, presents with diarrhea and abdominal pain. He says he feels weak and feverish....

Medical Sciences
Q

The retention factor (Re) is the result of dividing thea) distance traveled by analyte and...

Biology
Q

Two simple harmonic motions are represented by equation y 3 sin 10 t and Y...

Physics
Q

What is the solution to this equation?log(2x 100) = 3A. x= 100B. x= 550C. x=...

Basic Math
Q

4 Now calculate the standard deviation for the Journey sample 6 5 4 5 6...

Algebra
Q

Valley Manufacturing Company's beginning work-in-process inventory consisted of 40,000 units, 100%...

Accounting
Q

HA02 " "

Accounting
Q

Exercise 8-6 (Algo) Selling and Administrative Expense Budget [LO8-7] Weller Company's budgeted unit sales for...

Accounting
Q

2. The average price of homes in Calgary fell by $10,000 to $357,000 from June...

Accounting
Q

A company has sales of $752,800 and cost of goods sold of $301,800 Its gross...

Accounting
Q

Which of the following ABC activity levels is an example of doing inspections? 1) Facility-level...

Accounting
Q

Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that...

Accounting