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borteleto borteleto
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6 years ago
It is your 6th birthday today. You have a trust fund with $50,000 that is earning 8% per year. You expect to withdraw $30,000 per year for 7 years starting on your 22nd birthday for graduate school. How much money will be left in the trust fund after your last withdrawal (rounded to the nearest $10)?
A) $125,660
B) $35,780
C) $4,140
D) You will not have enough money to pay for graduate school.
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DeanaRayDeanaRay
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6 years ago
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borteleto Author
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#2
6 years ago
Tremendous help, I just double-checked it with my friend Smiling Face with Open Mouth
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