You will deposit $10,000 today. It will grow for 10 years at 10% interest compounded monthly....

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Finance

You will deposit $10,000 today. It will grow for 10 years at 10%interest compounded monthly. You will then withdraw the fundsquarterly over the next 4 years. The annual interest rate overthose 4 years is 8%. Your quarterly withdrawal will be
A. $1691.90.
B. $1993.74.
C. $1789.37.
D. $660.87.

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You will deposit $10,000 today. It will grow for 10 years at 10%interest compounded monthly. You will then withdraw the fundsquarterly over the next 4 years. The annual interest rate overthose 4 years is 8%. Your quarterly withdrawal will beA. $1691.90.B. $1993.74.C. $1789.37.D. $660.87.

You will deposit $10,000 today. It will grow for 10 years at 10% interest compounded monthly....

60.1K

Verified Solution

Question

Finance

You will deposit $10,000 today. It will grow for 10 years at 10%interest compounded monthly. You will then withdraw the fundsquarterly over the next 4 years. The annual interest rate overthose 4 years is 8%. Your quarterly withdrawal will be
A. $1691.90.
B. $1993.74.
C. $1789.37.
D. $660.87.

Answer & Explanation Solved by verified expert

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