Beginning December 31, 2014, ten equal, annual withdrawals are to be made.
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Required:
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Using the appropriate tables, determine the equal, annual withdrawals if $140,000 is invested on January 1, 2014 at an interest rate of 10% compounded annually.
What will be an ideal response?
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PVO | = C× Factor for POn,i |
$140,000 | = C× Factor for POn = 10, i = 10% |
$140,000 | = C× 6.144567 |
C |  |
C | = $22,784 |
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