You Want to Be Able to Travel and Withdraw $3750

question 45

Multiple Choice

You want to be able to travel and withdraw $3750 at the end of every month during your yearlong trip. During your trip your travel fund will earn 6.24% compounded monthly. What is the size of your travel fund if you want to be able to start your trip in 4 years and 7 months?

• A) $32 715.58
• B) $45 315.20
• C) $2849.74
• D) $46 309.57
• E) $45 555.20

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The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest of the shareholders or owner.

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The net income a company earns once all costs and taxes are subtracted from the total revenues.