Mathematics, 12.11.2020 01:10 ProfS3770
Initially I have $10000 sitting in a bank paying 7% effective annual rate, I
scheduled a level withdrawal annually starting now so that after 10 withdrawals the balance is zero. This withdrawal amount is deposited into an
investment account paying a whopping 20% annual rate. Interest earned
from this account is deposited back into the bank account annually. I forgot
to stop the scheduled withdrawal, will I have enough money to deposit into
the investment account at year 10?
Answers: 1
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Initially I have $10000 sitting in a bank paying 7% effective annual rate, I
scheduled a level with...
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