(Answered) Rate of return analysis you have 23000 in a bank savings

Management Studies

Rate of Return Analysis: You have $23,000 in a bank savings account today. You wish to withdraw $3,400 per year for the next 25 years with the first withdrawal being one year from today. When you make the last withdrawal of $3,400 from your account 25 years from now the account will be empty and you will have withdrawn all your money. Compute the actual rate of return to within plus or minus 0.1% using Microsoft EXCEL.

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