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Author Question: TJ invested a retirement gratuity of $43 000.00 in an income averaging annuity paying 7% compounded ... (Read 110 times)

erika

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Question 1

Mrs. Lavergne deposits $562.71 at the beginning of every three months. Starting three months after the last deposit, she intends to withdraw $587.00 every three months for 16 years. If interest is 8.14% compounded quarterly, for how long must Mrs. Lavergne make deposits?

Question 2

TJ invested a retirement gratuity of $43 000.00 in an income averaging annuity paying 7% compounded monthly. He withdraws the money in equal monthly amounts over five years. If the first withdrawal is made nine months after the deposit, what is the size of each withdrawal?


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Marked as best answer by erika on Jun 6, 2019

onowka

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