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Starting one month from now, you would like to withdraw $200 per month from your bank account to pay ...

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Starting one month from now, you would like to withdraw $200 per month from your bank account to pay ...

Starting one month from now, you would like to withdraw $200 per month from your bank account to pay for your university education. You expect the education (and the withdrawals) to last for the next four years. If the account pays 0.3% interest per month, how much money must you have in your bank account today to support your future needs?
A) $8,928.37
B) $7,157.02
C) $6,711.11
D) $8,794.50
E) $7,263.00

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Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

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We're using: Corporate Finance Online (Eakins, McNally)

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More solutions for this book are available here

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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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bigexternal Author

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7 years ago

I'm surprised how many intellects exist in this community, thank you

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We're using: Corporate Finance Online (Eakins, McNally)

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