Betty Boop has saved enough money to go back to grad school. She is planning to put the money in a money market account where it will earn 2.5%. If she anticipates slowly drawing the money out over the course of her time in grad school at a constant rate of $29,000 per year, but is charged a commission of $7.95 every time she sells shares, how much should she take out of the mutual fund at a time?

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The Answer of Betty Boop has saved enough money to go back to grad school. She is planning to put the money in a money market account where it will earn 2.5%. If she anticipates slowly drawing the money out over the course of her time in grad school at a constant rate of $29,000 per year, but is charged a commission of $7.95 every time she sells shares, how much should she take out of the mutual fund at a time?

Betty Boop Has Saved Enough Money to Go Back to Grad