How much would you need to deposit at 8% on January 1, 2021 in order to draw out $250.00 at the end of each year for 8 years, leaving nothing in the fund at the end? How much if the interest rate was 7%?
Added by Katie G.
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Step 1: Calculate the amount needed to withdraw $250 at the end of each year for 8 years with an interest rate of 8%. Show more…
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