How much did the investor withdraw at the end of year 8

Reference no: EM13189989

A careful investor saved $1,200 each year for 20 years. One year after the savings period ended, the investor withdrew $7,500 each year for a period of 5 years. In the sixth and seventh year, the investor withdrew $4,500 each of those years. In the eight year, the investor decided to withdraw all the remaining funds. If the interest rate was 8% per year throughout, how much did the investor withdraw at the end of year 8?

Reference no: EM13189989

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