Sally Has $3, 000, 000 on Deposit in a Fund

question 48

Multiple Choice

Sally has $3, 000, 000 on deposit in a fund that earns 10% interest compounded annually.How much can Sally withdraw annually from the fund in ten equal annual withdrawals to completely deplete the fund after the tenth draw, assuming the first withdrawal occurs one year from today?

• A)$300, 000
• B)$443, 851
• C)$488, 237
• D)$545, 945

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Definitions:

Relationship Behaviors

Actions taken by individuals in leadership roles that help to establish and maintain positive interactions and connections with others.

Directing Behaviors

Actions by a leader to guide, instruct, and oversee the performance of team members.

Leadership Behavior

Involves the actions, practices, and attitudes leaders use to influence their team's performance, motivation, and engagement.

Ohio State Studies

A series of studies that helped to identify leadership behaviors and styles by focusing on the behaviors of leaders and their effects on group performance.