Problem
Your father deposits $40,000 now into an account which will earn interest at a rate of 7% per year compounded quarterly. How much money can he withdraw every 6 months, if he makes his first withdrawal 15 years from now and he wants to make a total of 10 withdrawals?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.