How much did robert withdraw on his birthday

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Reference no: EM132723855

Question - Steve and Robert have added $5,000 to their separate accounts on each of their following birthdays (22 nd through 30 th birthdays). Steve has withdrawn nothing from the account, but Robert made one withdrawal on his 27 th birthday. Steve has invested the money in Treasury bills that have earned a 6% annual return, while Robert has invested his money in stocks that have earned a 12% annual return. Both Steve and Robert have the same amount in their accounts today. How much did Robert withdraw on his 27th birthday?

Reference no: EM132723855

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