SOLUTION: Suppose you inherited $200,000 and invested it at 6% per year. How much could you withdraw at the end of each of the next 15 years?

SOLUTION: Suppose you inherited $200,000 and invested it at 6% per year. How much could you withdraw at the end of each of the next 15 years?

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Question 388160: Suppose you inherited $200,000 and invested it at 6% per year. How much could you withdraw at the end of each of the next 15 years?
Answer by avani(25) (Show Source): You can put this solution on YOUR website!
FV= Future Value
PV= Present Value
n = number of years
r = interest rate

FV=PV(1+r)^n
FV=$200,000 (1+0.06)^15
FV=$479311.64
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