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SNHS Financial Math - MA2007
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Question 4
4
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Multiple Choice
Annuities
Question 4 • SNHS Financial Math - MA2007
Tami would like to withdraw $10,364.10 at the end of each year, for 10 years, from an account paying 2.3% compounded annually. Determine the amount needed in the account for Tami to do this. Round to the nearest cent.
Answer
A
$115,052.98
B
$103,641.00
C
$91,651.92
D
$93,759.91
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