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MATH156 Brookdale Community Retirement Supplement Question

Jun 7, 2022 | MATHEMATICS,MATH156

Jun 7, 2022 | MATHEMATICS,MATH156

MATH156 Brookdale Community Retirement Supplement Question

MATH156 Brookdale Community Retirement Supplement Question

A personal account earmarked as a retirement supplement contains $371,000. Suppose $300,000 is used to establish an annuity that earns 8%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the value of the annuity is $0? (Round your answer UP to the nearest quarter.)

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