You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.

You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.

Regular withdrawal: $1800
Interest rate: 2.5%
Frequency quarterly
Time: 30 years

 

Please follow and like us: