As a gift from your parents, you have just received $50,000 for your education for the next four years. You can earn an annual rate of 8% on your investments. How much can you withdraw each year (end of year) just using up the $50,000?
A) $11,096
B) $11,750
C) $12,500
D) $15,096

Question

Quizplus · Accepted Answer

The Answer of As a gift from your parents, you have just received $50,000 for your education for the next four years. You can earn an annual rate of 8% on your investments. How much can you withdraw each year (end of year) just using up the $50,000?
A) $11,096
B) $11,750
C) $12,500
D) $15,096

As a Gift from Your Parents, You Have Just Received