Demonstrate your total withdrawals

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Question - 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.

Reference no: EM132764853

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