Frances Koo has $43,800 in an investment account that pays her interest at 10% compounded semiannually. Frances will withdraw a specific amount (always the same) every six months for 11 years. After the last withdrawal, the account will be empty. Compute the amount that she will withdraw every six months. Use Tables 23-2A and 23-2B or a calculator
$43,800 รท 13.16300 = $3,327.51 withdrawn every 6 months
Business
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