13
QuizMultiple Choice

Annuities

Question 13 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

An account paying 4.6% interest compounded quarterly has a balance of $506,732.32. Determine the amount that can be withdrawn quarterly from the account for 20 years, assuming ordinary annuity.

Answer
A
$9,722.36
B
$6,334.15
C
$23,965.92
D
$7,366.99
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