If you have $20,000 in an account earning 8% annually, - 4523

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Request Description

If you have $20,000 in an account earning 8% annually, what constant amount could you withdraw each year and have nothing remaining at the end of five years? 

A. $5,008.76 

B. $3,525.62 

C. $3,408.88 

D. $2,465.78 

 
Solution Description

If you have $20,000 in an account ea