Mathematics, 05.05.2020 15:41 Ajaxr3175

An account paying 3.2% interest compounded semiannually has a balance of $32,675.12. Determine the amount that can be withdrawn from the account semiannually for 5 years. Assume ordinary annuity and round to the nearest cent.
a.
$3,505.80
b.
$3,561.90
c.
$3,039.09
d.
$2,991.23

Answers: 1

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An account paying 3.2% interest compounded semiannually has a balance of $32,675.12. Determine the amount that can be withdrawn from the account semiannually for 5 years. Assume ordinary annuity and round to the nearest cent. a. $3,505.80 b. $3,561.90 c. $3,039.09 d. $2,991.23

Answers

Another question on Mathematics

An account paying 3.2% interest compounded semiannually has a balance of $32,675.12. Determine the amount that can be withdrawn from the account semiannually for 5 years. Assume ordinary annuity and round to the nearest cent.
a.
$3,505.80
b.
$3,561.90
c.
$3,039.09
d.
$2,991.23