You Were Left $100, 000 in a Trust Fund Set

Multiple Choice

You were left $100, 000 in a trust fund set up by your grandfather.The fund 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