Levels Tought:
University
Teaching Since: | Apr 2017 |
Last Sign in: | 346 Weeks Ago |
Questions Answered: | 9562 |
Tutorials Posted: | 9559 |
bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
You have $20,000 that you put on deposit on your 30th birthday at 5% compounded anually. On your 40th birthday, the account begins earning 6%. Then, on your 50th birthday it begins earning 7%. You plan to withdraw equal annual ammounts on each of your 61st, 62nd.....,70th birthdays.
Find (a) How much will be your annual withdrawl?
(b) On your way to the bank on your 65th birthday, you decide to withdraw the entire amount remaining. How much do you withdraw?
 A-----------mou-----------nt -----------dep-----------osi-----------t a-----------t 3-----------0th----------- bi-----------rth-----------day----------- $ -----------200-----------00 -----------for----------- at----------- 5%----------- fo-----------r 1-----------0 y-----------ear-----------s I-----------f i-----------nte-----------res-----------t c-----------omp-----------oun-----------d a-----------nnu-----------all-----------y, -----------Amo-----------unt----------- on----------- 40----------- th----------- bi-----------rth----------- da-----------y w-----------ill----------- be----------- 20-----------000-----------+20-----------000----------- *[-----------(1+-----------.05-----------)^1-----------0-1-----------]