Solution-Demonstrate that total withdrawals will amount

Demonstrate that total withdrawals will amount

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Reference no: EM132659932

Problem 1: Suppose you deposit $10,000 today, with the expectation that it will grow for 10 years at 11% interest compounded monthly. You then plan to withdraw the funds quarterly over the next 4 years. You expect the annual interest rate over those 4 years to be 9%. Demonstrate that your total withdrawals, to the nearest dollar, will amount to $35,926. (Do not use the provided result of $35,926 as an input to prove the result.)

Reference no: EM132659932

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Demonstrate that total withdrawals will amount

Reference no: EM132659932

Reference no: EM132659932

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