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Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. You will make the investment now, and you will make 4 annual end-of-year withdrawals of $16,500, beginning 1 year from today. There will be no funds remaining in the account after the last withdrawal. What annual rate of return would be required to permit these withdrawals?

a. 10.83%

b. 11.17%

c. 11.51%

d. 11.81%

e. 12.11%

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Financial Management, Finance

Category:- Financial Management
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