Find the Periodic Withdrawal for an Annuity Containing $275,000 at 6

question 5

Multiple Choice

Find the periodic withdrawal for an annuity containing $275,000 at 6%, paid out monthly for 30 years. (Assume end-of-period deposits and compounding at the same intervals as deposits) . Round your answer to the nearest cent.

• A) \(P M T = \$ 1,476.26\)
• B) \(P M T = \$ 1,829.58\)
• C) \(P M T = \$ 1,647.84\)
• D) \(P M T = \$ 1,650.26\)
• E) \(P M T = \$ 1,648.76\)

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