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OpenStudy (anonymous):
Find the periodic withdrawals PMT for the annuity given. HINT [See Example 4.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $350,000 at 5%, paid out monthly for 20 years
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OpenStudy (perl):
what does PMT stand for?
OpenStudy (anonymous):
payments
OpenStudy (anonymous):
i came up with 350,000 times 0.0041/ 1-(1+0.0041) to the -240 power
OpenStudy (anonymous):
got it!
OpenStudy (anonymous):
:)
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