Try another version of this question Get help: Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 3: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
You want to be able to withdraw $40,000 each year for 25 years. Your account earns 8% interest.
a) How much do you need in your account at the beginning?
$
b) How much total money will you pull out of the account?
$
c) How much of that money is interest?
$
Enter DNE for Does Not Exist, oo for Infinity 426,991.05
Enter DNE for Does Not Exist, oo for Infinity 1,000,000
Enter DNE for Does Not Exist, oo for Infinity 573,008.95