Andy deposits $40,000 into an account earning 6.6% compounded annually for 5 years. After this time, Andy wishes to withdraw $2,814.41 at the end of each quarter and have $10,000 remaining. Determine the number of withdrawals Andy can make.
A) 20 withdrawals
B) 24 withdrawals
C) 28 withdrawals
D) 32 withdrawals
E) 36 withdrawals
Correct Answer:
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