Recent Sales of Some Real Estate and Record Profits Make

question 85

Multiple Choice

Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $880,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half year for the next 4 years if the fund earns an annual rate of 7.6%, compounded semiannually? Round your answer to the nearest cent. ​

• A)$232,456.25
• B)$32,216.74
• C)$32,298.52
• D)$33,933.05
• E)$124,881.72

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