Tabatha has saved $85, 700.00. If she decides to withdraw $2,726.00 at the beginning of every month and interest is 10.44% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Tabatha has saved $85, 700.00. If she decides to
withdraw $2,726.00 at the beginning of every month
and interest is 10.44% compounded annually, for how
long can she make withdrawals? Express your answer in
years and months (from 0 to 11 months).
Transcribed Image Text:Tabatha has saved $85, 700.00. If she decides to withdraw $2,726.00 at the beginning of every month and interest is 10.44% compounded annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).
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