If You Have $20,000 in an Account Earning 8% Annually

question 99

Multiple Choice

If you have $20,000 in an account earning 8% annually, what constant amount could you withdraw each year and have nothing remaining at the end of five years?

• A) $3,525.62
• B) $5,008.76
• C) $3,408.88
• D) $2,465.78

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Definitions:

AASB 8 Operating Segments

A standard that requires an entity to disclose information about its operating segments, products and services, the geographical areas in which it operates, and its major customers.

Internal Management

Refers to the process and activities undertaken by a company's management team to operationalize business strategies and manage daily operations effectively.