Find the periodic withdrawal for an annuity of $240,000 at 6%, paid out quarterly for 25 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
A) $P M T = \$ 4,648.94$
B) $P M T = \$ 1,048.94$
C) $P M T = \$ 6,205.22$
D) $P M T = \$ 3,095.97$
E) $P M T = \$ 1,546.32$

Question

Find the periodic withdrawal for an annuity of $240,000 at 6%, paid out quarterly for 25 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent. 
A) $P M T = \$ 4,648.94$
B) $P M T = \$ 1,048.94$
C) $P M T = \$ 6,205.22$
D) $P M T = \$ 3,095.97$
E) $P M T = \$ 1,546.32$

Quizplus · Accepted Answer

The Answer is A

Find the Periodic Withdrawal for an Annuity of $240,000 at 6