Mathematics, 02.04.2020 02:41 nika0001

Andy would like to withdraw an annual salary of $45,000 from an account paying 3.1% compounded annually for 25 years once she retires. Given this information, determine the amount needed in her account in order for her to reach her goal. Round to the nearest cent.
a.
$9,386,168.48
b.
$14,516.13
c.
$798,954.46
d.
$774,931.58

Answers: 2

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Andy would like to withdraw an annual salary of $45,000 from an account paying 3.1% compounded annua...