Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years?
A)$10,000
B)$18,390
C)$26,730
D)$29,100
E)$30,000

Question

Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years? 
A)$10,000 
B)$18,390 
C)$26,730 
D)$29,100 
E)$30,000

Quizplus · Accepted Answer

The Answer of Benjamin is planning to go to graduate school in a program that will take three years.Benjamin wants to have $10,000 available each year for his school and living expenses.If he earns 6% on his investments,approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years? 
A)$10,000 
B)$18,390 
C)$26,730 
D)$29,100 
E)$30,000

Benjamin Is Planning to Go to Graduate School in a Program