Your Grandmother Just Died and Left You $100,000 in a Trust

Multiple Choice

Your grandmother just died and left you $100,000 in a trust fund that pays 6.5% interest.You must spend the money on your college education,and you must withdraw the money in 4 equal installments,beginning immediately.How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account?

A) $24,736
B) $26,038
C) $27,409
D) $28,779
E) $30,218