SOLUTION: You want to be able to withdraw $20000 each year for 15 years. Your account earns 10% interest. How much do you need in your account at the beginning?
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Question 1153016: You want to be able to withdraw $20000 each year for 15 years. Your account earns 10% interest. How much do you need in your account at the beginning?
Answer by ikleyn(52915) (Show Source): You can put this solution on YOUR website!
.
The TWIN problem was just solved under this link
https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1153017.html
https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1153017.html
Use it as your TEMPLATE, and solve the given problem by the same way on your own.
Happy calculations (!)
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