Question

Determine the amount needed such that when it comes time for retirement, an individual can make semiannual

withdrawals in the amount of $15,265 for 35 years from an account paying 4.5% compounded semiannually. Round
your answer to the nearest cent.
$938,272.00
b. $941,790.00
$535,528.03
0
$547,577.41

Answer 1

the correct answer is 0 54,577.41

Explanation:

you needed to take the withdrawal amount divide it by 35 and divide that answer by the 4.5 percentage rate

Answer 2

C. $535,528.03

Explanation:

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