A deposit of 40000 is put in a savings account at an, Ask an Expert

Economics

A deposit of $ 40,000 is put in a savings account at an interest rate of 3%. The interest is compounded quarterly, Equal annual withdrawals are to be made from the account, beginning one year from now and continuing forever. What is the maximum annual withdrawal? Please show work

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91295211

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