Multiple Choice
It is your 5th birthday today.You have a trust fund with $50,000 that is earning 8% per year.You expect to withdraw $20,000 per year for 4 years starting on your 21st birthday for graduate school.How much money will be left in the trust fund after your last withdrawal (rounded to the nearest $10) ?
A) $125,660
B) $135,780
C) $91,30
D) You will not have enough money to pay for graduate school.
Correct Answer:
Verified
Correct Answer:
Verified
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